Advent Convertible and Income Fund (NYSE:AVK) Plans $0.12 Monthly Dividend

Advent Convertible and Income Fund (NYSE:AVK) declared a monthly dividend on Thursday, July 3rd, Wall Street Journal reports. Stockholders of record on Tuesday, July 15th will be given a dividend of 0.1172 per share by the investment management company on Thursday, July 31st. This represents a $1.41 dividend on an annualized basis and a dividend yield of 11.50%. The ex-dividend date of this dividend is Tuesday, July 15th.

Advent Convertible and Income Fund Price Performance

NYSE AVK opened at $12.23 on Friday. The company has a fifty day simple moving average of $11.65 and a 200 day simple moving average of $11.67. Advent Convertible and Income Fund has a 1 year low of $9.75 and a 1 year high of $12.97.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Advent Convertible and Income Fund stock. Integrated Wealth Concepts LLC acquired a new position in shares of Advent Convertible and Income Fund (NYSE:AVK) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,997 shares of the investment management company’s stock, valued at approximately $231,000.

About Advent Convertible and Income Fund

Advent Claymore Convertible Securities and Income Fund is a closed-ended fixed income mutual fund launched and managed by Advent Capital Management, LLC. The fund primarily invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across the diversified sectors.