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

Advent Convertible and Income Fund (NYSE:AVK) declared a monthly dividend on Thursday, January 2nd,Wall Street Journal reports. Stockholders 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 dividend yield of 11.97%. The ex-dividend date of this dividend is Wednesday, January 15th.

Advent Convertible and Income Fund Stock Down 0.4 %

Shares of Advent Convertible and Income Fund stock opened at $11.75 on Monday. Advent Convertible and Income Fund has a one year low of $11.03 and a one year high of $12.97. The business’s 50 day simple moving average is $11.94 and its two-hundred day simple moving average is $12.03.

Insiders Place Their Bets

In other Advent Convertible and Income Fund news, insider Randall C. Barnes bought 3,785 shares of Advent Convertible and Income Fund stock in a transaction dated Thursday, October 17th. The shares were purchased at an average cost of $11.28 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tracy V. Maitland purchased 13,179 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was acquired at an average cost of $11.28 per share, with a total value of $148,659.12. Following the purchase, the chief executive officer now directly owns 45,449 shares of the company’s stock, valued at $512,664.72. This trade represents a 40.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 19,264 shares of company stock valued at $217,298 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.