Advent Convertible and Income Fund (NYSE:AVK) Stock Crosses Below 200 Day Moving Average – What’s Next?

Advent Convertible and Income Fund (NYSE:AVK) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.03 and traded as low as $11.36. Advent Convertible and Income Fund shares last traded at $11.40, with a volume of 170,099 shares trading hands.

Advent Convertible and Income Fund Price Performance

The company has a 50 day moving average price of $12.10 and a 200 day moving average price of $12.03.

Advent Convertible and Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.1172 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.41 dividend on an annualized basis and a yield of 12.34%. This is an increase from Advent Convertible and Income Fund’s previous monthly dividend of $0.09.

Insider Buying and Selling at Advent Convertible and Income Fund

In related news, VP Tony Huang purchased 2,300 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was acquired at an average price of $11.28 per share, for a total transaction of $25,944.00. Following the purchase, the vice president now owns 9,400 shares of the company’s stock, valued at approximately $106,032. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. PFG Investments LLC lifted 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. International Assets Investment Management LLC lifted its position in shares of Advent Convertible and Income Fund by 8.0% during the 2nd quarter. International Assets Investment Management LLC now owns 34,736 shares of the investment management company’s stock worth $414,000 after buying an additional 2,575 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its position in shares of Advent Convertible and Income Fund by 29.7% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 14,080 shares of the investment management company’s stock worth $168,000 after buying an additional 3,222 shares in the last quarter. Atomi Financial Group Inc. lifted its position in shares of Advent Convertible and Income Fund by 20.8% during the 2nd quarter. Atomi Financial Group Inc. now owns 20,271 shares of the investment management company’s stock worth $242,000 after buying an additional 3,489 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Advent Convertible and Income Fund by 8.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 140,335 shares of the investment management company’s stock worth $1,673,000 after buying an additional 10,716 shares in 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.