Advent Convertible and Income Fund (NYSE:AVK) Plans Monthly Dividend of $0.12

Advent Convertible and Income Fund (NYSE:AVK) announced a monthly dividend on Thursday, January 2nd,Wall Street Journal reports. Shareholders of record on Wednesday, January 15th will be paid a dividend of 0.1172 per share by the investment management company on Friday, January 31st. This represents a $1.41 dividend on an annualized basis and a yield of 11.76%. The ex-dividend date of this dividend is Wednesday, January 15th.

Advent Convertible and Income Fund Trading Up 1.9 %

Shares of AVK traded up $0.22 during midday trading on Friday, hitting $11.96. 138,213 shares of the stock were exchanged, compared to its average volume of 141,257. Advent Convertible and Income Fund has a 52-week low of $11.03 and a 52-week high of $12.97. The stock has a fifty day simple moving average of $11.85 and a 200 day simple moving average of $12.02.

Insider Activity at Advent Convertible and Income Fund

In related news, CEO Tracy V. Maitland acquired 13,179 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were acquired at an average price of $11.28 per share, with a total value of $148,659.12. Following the completion of the transaction, the chief executive officer now owns 45,449 shares of the company’s stock, valued at $512,664.72. The trade was a 40.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Randall C. Barnes acquired 3,785 shares of Advent Convertible and Income Fund stock in a transaction dated Thursday, October 17th. The stock was bought at an average price of $11.28 per share, for a total transaction of $42,694.80. Following the completion of the purchase, the insider now owns 15,140 shares of the company’s stock, valued at approximately $170,779.20. This represents a 33.33 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 19,264 shares of company stock worth $217,298 in the last three months.

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.