Advent Convertible and Income Fund (NYSE:AVK) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Advent Convertible and Income Fund (NYSE:AVK)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.86 and traded as low as $11.63. Advent Convertible and Income Fund shares last traded at $11.66, with a volume of 64,121 shares traded.

Advent Convertible and Income Fund Price Performance

The business has a 50-day moving average of $11.95 and a 200 day moving average of $11.85.

Advent Convertible and Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.1172 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.41 annualized dividend and a dividend yield of 12.18%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new position in shares of Advent Convertible and Income Fund in the fourth quarter valued at approximately $66,000. Wolverine Asset Management LLC bought a new position in Advent Convertible and Income Fund in the 4th quarter valued at $101,000. Encompass More Asset Management bought a new position in Advent Convertible and Income Fund in the 3rd quarter valued at $140,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Advent Convertible and Income Fund during the 4th quarter valued at $147,000. Finally, Jaffetilchin Investment Partners LLC raised its stake in shares of Advent Convertible and Income Fund by 21.3% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 16,342 shares of the investment management company’s stock worth $192,000 after purchasing an additional 2,867 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.