Advent Convertible and Income Fund (NYSE:AVK) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Advent Convertible and Income Fund (NYSE:AVK)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.89 and traded as low as $11.44. Advent Convertible and Income Fund shares last traded at $11.55, with a volume of 107,033 shares trading hands.

Advent Convertible and Income Fund Price Performance

The business has a fifty day moving average of $11.99 and a 200 day moving average of $11.89.

Advent Convertible and Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.1172 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 12.08%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Sit Investment Associates Inc. raised its stake in shares of Advent Convertible and Income Fund by 3,605.3% in the 4th quarter. Sit Investment Associates Inc. now owns 4,355,074 shares of the investment management company’s stock valued at $51,259,000 after acquiring an additional 4,237,538 shares during the period. Raymond James Financial Inc. purchased a new stake in Advent Convertible and Income Fund in the fourth quarter valued at approximately $13,713,000. Penserra Capital Management LLC acquired a new position in Advent Convertible and Income Fund during the third quarter worth $11,695,000. Absolute Investment Advisers LLC acquired a new position in Advent Convertible and Income Fund during the fourth quarter worth $9,384,000. Finally, Guggenheim Capital LLC boosted its position in shares of Advent Convertible and Income Fund by 1.7% during the fourth quarter. Guggenheim Capital LLC now owns 682,010 shares of the investment management company’s stock worth $8,027,000 after buying an additional 11,579 shares during the period.

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.