Advent Convertible and Income Fund (NYSE:AVK) Raises Dividend to $0.12 Per Share

Advent Convertible and Income Fund (NYSE:AVK) announced a monthly dividend on Friday, November 1st,NASDAQ Dividends reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.1172 per share by the investment management company on Friday, November 29th. This represents a $1.41 dividend on an annualized basis and a yield of 11.81%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Advent Convertible and Income Fund’s previous monthly dividend of $0.09.

Advent Convertible and Income Fund Price Performance

Shares of NYSE:AVK traded up $0.05 during midday trading on Wednesday, reaching $11.91. 184,808 shares of the company’s stock were exchanged, compared to its average volume of 142,490. The company’s 50 day simple moving average is $11.67 and its two-hundred day simple moving average is $12.00. Advent Convertible and Income Fund has a 12 month low of $10.12 and a 12 month high of $12.97.

Insider Buying and Selling

In related news, insider Randall C. Barnes acquired 3,785 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were bought at an average cost of $11.28 per share, with a total value of $42,694.80. Following the completion of the acquisition, the insider now owns 15,140 shares of the company’s stock, valued at $170,779.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Randall C. Barnes acquired 3,785 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was bought at an average cost of $11.28 per share, with a total value of $42,694.80. Following the completion of the acquisition, the insider now owns 15,140 shares in the company, valued at $170,779.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tracy V. Maitland bought 13,179 shares of Advent Convertible and Income Fund stock in a transaction dated Thursday, October 17th. The stock was purchased at an average price of $11.28 per share, for a total transaction of $148,659.12. Following the purchase, the chief executive officer now directly owns 45,449 shares in the company, valued at $512,664.72. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 19,264 shares of company stock valued at $217,298 over 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.