Advent Convertible and Income Fund (NYSE:AVK) Stock Price Passes Below 200-Day Moving Average of $12.08

Advent Convertible and Income Fund (NYSE:AVK) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.08 and traded as low as $11.45. Advent Convertible and Income Fund shares last traded at $11.49, with a volume of 194,657 shares trading hands.

Advent Convertible and Income Fund Price Performance

The company’s fifty day moving average price is $12.41 and its 200-day moving average price is $12.07.

Advent Convertible and Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.1172 per share. This represents a $1.41 annualized dividend and a dividend yield of 12.29%. The ex-dividend date of this dividend is Wednesday, October 2nd. This is a positive change from Advent Convertible and Income Fund’s previous monthly dividend of $0.09.

Institutional Trading of Advent Convertible and Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of Advent Convertible and Income Fund during the second quarter valued at approximately $581,000. Trust Investment Advisors purchased a new stake in shares of Advent Convertible and Income Fund in the 2nd quarter worth $133,000. Choreo LLC bought a new position in shares of Advent Convertible and Income Fund during the 2nd quarter worth $206,000. PFG Investments LLC grew its position in shares of Advent Convertible and Income Fund by 65.9% during the 2nd quarter. PFG Investments LLC now owns 62,034 shares of the investment management company’s stock worth $739,000 after buying an additional 24,651 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its stake in shares of Advent Convertible and Income Fund by 29.7% during the second quarter. Jaffetilchin Investment Partners LLC now owns 14,080 shares of the investment management company’s stock valued at $168,000 after buying an additional 3,222 shares during the period.

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.