Advent Convertible and Income Fund (NYSE:AVK) Stock Passes Below Two Hundred Day Moving Average of $12.08

Shares of Advent Convertible and Income Fund (NYSE:AVK) crossed 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 Trading Down 0.2 %

The stock’s fifty day moving average is $12.43 and its two-hundred day moving average is $12.08.

Advent Convertible and Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 2nd will be issued a $0.1172 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 12.24%. This is a boost from Advent Convertible and Income Fund’s previous monthly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, October 2nd.

Institutional Investors Weigh In On Advent Convertible and Income Fund

Several hedge funds have recently modified their holdings of AVK. Capital Wealth Alliance LLC purchased a new stake in shares of Advent Convertible and Income Fund in the 1st quarter valued at approximately $128,000. Jaffetilchin Investment Partners LLC purchased a new stake in shares of Advent Convertible and Income Fund in the first quarter valued at $130,000. Trust Investment Advisors purchased a new stake in shares of Advent Convertible and Income Fund in the second quarter valued at $133,000. Park Avenue Securities LLC boosted its position in shares of Advent Convertible and Income Fund by 11.5% in the first quarter. Park Avenue Securities LLC now owns 13,064 shares of the investment management company’s stock worth $156,000 after buying an additional 1,348 shares during the period. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of Advent Convertible and Income Fund by 12.6% during the first quarter. Concurrent Investment Advisors LLC now owns 15,483 shares of the investment management company’s stock valued at $185,000 after buying an additional 1,729 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.