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

Advent Convertible and Income Fund (NYSE:AVK) declared a dividend on Monday, December 2nd,NASDAQ Dividends reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.1172 per share by the investment management company on Tuesday, December 31st. The ex-dividend date is Friday, December 13th. This is a positive change from Advent Convertible and Income Fund’s previous dividend of $0.09.

Advent Convertible and Income Fund Stock Up 0.7 %

NYSE AVK traded up $0.08 during trading on Tuesday, hitting $12.28. 226,230 shares of the company’s stock were exchanged, compared to its average volume of 150,900. Advent Convertible and Income Fund has a fifty-two week low of $10.32 and a fifty-two week high of $12.97. The stock’s 50 day moving average price is $11.60 and its two-hundred day moving average price is $12.01.

Insiders Place Their Bets

In other news, CEO Tracy V. Maitland acquired 13,179 shares of the stock in a transaction dated Thursday, October 17th. The stock was bought at an average price of $11.28 per share, with a total value of $148,659.12. Following the completion of the purchase, the chief executive officer now directly owns 45,449 shares of the company’s stock, valued at $512,664.72. This represents a 40.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Randall C. Barnes acquired 3,785 shares of the stock in a transaction dated Thursday, October 17th. The stock was purchased at an average cost of $11.28 per share, with a total value of $42,694.80. Following the purchase, the insider now directly owns 15,140 shares of the company’s stock, valued at $170,779.20. This trade represents a 33.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 19,264 shares of company stock valued at $217,298.

Advent Convertible and Income Fund Company Profile

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.