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

Advent Convertible and Income Fund (NYSE:AVK) declared a monthly dividend on Monday, December 1st. Investors of record on Monday, December 15th will be given a dividend of 0.1172 per share by the investment management company on Wednesday, December 31st. This represents a c) annualized dividend and a yield of 11.1%. The ex-dividend date of this dividend is Monday, December 15th.

Advent Convertible and Income Fund Trading Down 0.4%

NYSE:AVK opened at $12.62 on Tuesday. Advent Convertible and Income Fund has a 52 week low of $9.75 and a 52 week high of $13.10. The firm has a 50-day moving average price of $12.70 and a two-hundred day moving average price of $12.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC increased its position in shares of Advent Convertible and Income Fund by 18.3% during the 3rd quarter. NewEdge Advisors LLC now owns 70,662 shares of the investment management company’s stock valued at $904,000 after purchasing an additional 10,954 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Advent Convertible and Income Fund by 10.7% during the third quarter. Integrated Wealth Concepts LLC now owns 34,337 shares of the investment management company’s stock valued at $439,000 after buying an additional 3,316 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Advent Convertible and Income Fund during the third quarter worth about $156,000. Bank of America Corp DE raised its position in Advent Convertible and Income Fund by 4.7% in the third quarter. Bank of America Corp DE now owns 69,815 shares of the investment management company’s stock worth $893,000 after acquiring an additional 3,111 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in Advent Convertible and Income Fund by 8.5% in the third quarter. Raymond James Financial Inc. now owns 1,456,665 shares of the investment management company’s stock valued at $18,631,000 after acquiring an additional 114,371 shares during the last quarter.

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.