Advent Convertible and Income Fund (NYSE:AVK) Stock Price Crosses Below Two Hundred Day Moving Average of $12.07

Advent Convertible and Income Fund (NYSE:AVK) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.07 and traded as low as $11.89. Advent Convertible and Income Fund shares last traded at $12.16, with a volume of 477,617 shares changing hands.

Advent Convertible and Income Fund Price Performance

The company’s 50-day moving average price is $12.48 and its 200-day moving average price is $12.07.

Advent Convertible and Income Fund Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 1st will be issued a $0.1172 dividend. This is a boost from Advent Convertible and Income Fund’s previous dividend of $0.09. The ex-dividend date of this dividend is Tuesday, October 1st.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. 9258 Wealth Management LLC raised its stake in Advent Convertible and Income Fund by 1.6% in the 1st quarter. 9258 Wealth Management LLC now owns 59,423 shares of the investment management company’s stock valued at $710,000 after purchasing an additional 908 shares during the last quarter. Atomi Financial Group Inc. raised its position in shares of Advent Convertible and Income Fund by 7.4% in the first quarter. Atomi Financial Group Inc. now owns 16,782 shares of the investment management company’s stock valued at $200,000 after buying an additional 1,163 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Advent Convertible and Income Fund by 0.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 129,619 shares of the investment management company’s stock valued at $1,548,000 after buying an additional 1,218 shares during the last quarter. Stolper Co lifted its stake in shares of Advent Convertible and Income Fund by 2.3% in the first quarter. Stolper Co now owns 56,658 shares of the investment management company’s stock worth $676,000 after buying an additional 1,286 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in Advent Convertible and Income Fund by 11.5% during the 1st quarter. Park Avenue Securities LLC now owns 13,064 shares of the investment management company’s stock valued at $156,000 after acquiring an additional 1,348 shares in 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.