Advent Convertible and Income Fund (NYSE:AVK) Stock Price Passes Above 50-Day Moving Average of $11.89

Advent Convertible and Income Fund (NYSE:AVK)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.89 and traded as high as $11.96. Advent Convertible and Income Fund shares last traded at $11.87, with a volume of 76,942 shares traded.

Advent Convertible and Income Fund Price Performance

The stock has a 50-day moving average of $11.90 and a 200-day moving average of $11.74.

Advent Convertible and Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a $0.1172 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.41 annualized dividend and a dividend yield of 11.87%. This is a boost from Advent Convertible and Income Fund’s previous monthly dividend of $0.12.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AVK. Jaffetilchin Investment Partners LLC purchased a new position in shares of Advent Convertible and Income Fund in the 1st quarter worth about $130,000. Capital Wealth Alliance LLC purchased a new stake in shares of Advent Convertible and Income Fund in the 1st quarter valued at $128,000. Concurrent Investment Advisors LLC grew its holdings in shares of Advent Convertible and Income Fund by 12.6% during the 1st quarter. Concurrent Investment Advisors LLC now owns 15,483 shares of the investment management company’s stock valued at $185,000 after purchasing an additional 1,729 shares during the last quarter. Atomi Financial Group Inc. raised its position in Advent Convertible and Income Fund by 7.4% in the 1st quarter. Atomi Financial Group Inc. now owns 16,782 shares of the investment management company’s stock worth $200,000 after purchasing an additional 1,163 shares during the period. Finally, 9258 Wealth Management LLC lifted its stake in Advent Convertible and Income Fund by 1.6% in the first quarter. 9258 Wealth Management LLC now owns 59,423 shares of the investment management company’s stock worth $710,000 after purchasing an additional 908 shares during the last quarter.

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.