Advent Convertible and Income Fund (NYSE:AVK) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Advent Convertible and Income Fund (NYSE:AVK)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.00 and traded as low as $11.22. Advent Convertible and Income Fund shares last traded at $11.30, with a volume of 193,103 shares traded.

Advent Convertible and Income Fund Price Performance

The business’s fifty day moving average price is $11.77 and its 200-day moving average price is $12.00.

Advent Convertible and Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.1172 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 12.45%. This is an increase from Advent Convertible and Income Fund’s previous monthly dividend of $0.09. The ex-dividend date of this dividend is Friday, November 15th.

Insider Transactions at Advent Convertible and Income Fund

In related news, insider Randall C. Barnes acquired 3,785 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were bought at an average cost of $11.28 per share, for a total transaction of $42,694.80. Following the completion of the transaction, the insider now owns 15,140 shares in the company, valued at approximately $170,779.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Tracy V. Maitland acquired 13,179 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were bought at an average cost of $11.28 per share, for a total transaction of $148,659.12. Following the completion of the transaction, the chief executive officer now owns 45,449 shares in the company, valued at approximately $512,664.72. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Randall C. Barnes acquired 3,785 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was bought at an average price of $11.28 per share, for a total transaction of $42,694.80. Following the completion of the transaction, the insider now owns 15,140 shares of the company’s stock, valued at $170,779.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 19,264 shares of company stock valued at $217,298.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in Advent Convertible and Income Fund by 8.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 140,335 shares of the investment management company’s stock valued at $1,673,000 after acquiring an additional 10,716 shares during the last quarter. PFG Investments LLC grew its position in Advent Convertible and Income Fund by 65.9% during the second quarter. PFG Investments LLC now owns 62,034 shares of the investment management company’s stock valued at $739,000 after acquiring an additional 24,651 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Advent Convertible and Income Fund during the second quarter valued at approximately $581,000. Shaker Financial Services LLC bought a new position in Advent Convertible and Income Fund during the third quarter valued at approximately $488,000. Finally, International Assets Investment Management LLC grew its position in Advent Convertible and Income Fund by 8.0% during the second quarter. International Assets Investment Management LLC now owns 34,736 shares of the investment management company’s stock valued at $414,000 after acquiring an additional 2,575 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.