Advent Convertible and Income Fund (NYSE:AVK) Announces Dividend Increase – $0.12 Per Share

Advent Convertible and Income Fund (NYSE:AVK) announced a monthly dividend on Friday, November 1st,NASDAQ Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.1172 per share by the investment management company on Friday, November 29th. This represents a $1.41 annualized dividend and a yield of 11.74%. The ex-dividend date is Friday, November 15th. This is a boost from Advent Convertible and Income Fund’s previous monthly dividend of $0.09.

Advent Convertible and Income Fund Stock Performance

Shares of AVK traded up $0.07 during midday trading on Thursday, hitting $11.98. 8,079 shares of the stock traded hands, compared to its average volume of 142,579. Advent Convertible and Income Fund has a 1-year low of $10.16 and a 1-year high of $12.97. The business’s 50 day moving average price is $11.66 and its two-hundred day moving average price is $12.00.

Insider Activity

In related news, CEO Tracy V. Maitland purchased 13,179 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were bought at an average cost of $11.28 per share, for a total transaction of $148,659.12. Following the transaction, the chief executive officer now owns 45,449 shares of the company’s stock, valued at $512,664.72. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Advent Convertible and Income Fund news, CEO Tracy V. Maitland bought 13,179 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were acquired at an average cost of $11.28 per share, for a total transaction of $148,659.12. Following the acquisition, the chief executive officer now directly owns 45,449 shares of the company’s stock, valued at $512,664.72. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Randall C. Barnes purchased 3,785 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was bought at an average cost of $11.28 per share, for a total transaction of $42,694.80. Following the purchase, the insider now directly owns 15,140 shares in the company, valued at $170,779.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 19,264 shares of company stock valued at $217,298.

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.