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

Advent Convertible and Income Fund (NYSE:AVK)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.76 and traded as low as $10.02. Advent Convertible and Income Fund shares last traded at $10.92, with a volume of 337,963 shares traded.

Advent Convertible and Income Fund Stock Performance

The company has a 50-day moving average of $11.68 and a 200 day moving average of $11.76.

Advent Convertible and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a $0.1172 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $1.41 annualized dividend and a yield of 12.89%.

Institutional Investors Weigh In On Advent Convertible and Income Fund

A number of large investors have recently added to or reduced their stakes in AVK. Sit Investment Associates Inc. increased its position in shares of Advent Convertible and Income Fund by 3,605.3% during the 4th quarter. Sit Investment Associates Inc. now owns 4,355,074 shares of the investment management company’s stock valued at $51,259,000 after purchasing an additional 4,237,538 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Advent Convertible and Income Fund in the fourth quarter worth approximately $13,713,000. Absolute Investment Advisers LLC bought a new position in Advent Convertible and Income Fund during the fourth quarter valued at approximately $9,384,000. Guggenheim Capital LLC raised its stake in shares of Advent Convertible and Income Fund by 1.7% during the fourth quarter. Guggenheim Capital LLC now owns 682,010 shares of the investment management company’s stock worth $8,027,000 after acquiring an additional 11,579 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Advent Convertible and Income Fund by 22.3% in the 4th quarter. Advisors Asset Management Inc. now owns 602,548 shares of the investment management company’s stock worth $7,092,000 after acquiring an additional 109,712 shares during 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.