Advent Convertible and Income Fund (NYSE:AVK) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Advent Convertible and Income Fund (NYSE:AVK) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.03 and traded as low as $11.75. Advent Convertible and Income Fund shares last traded at $11.95, with a volume of 96,958 shares.

Advent Convertible and Income Fund Stock Down 0.7 %

The stock has a 50 day moving average of $11.80 and a 200-day moving average of $12.03.

Advent Convertible and Income Fund Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.1172 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Advent Convertible and Income Fund’s previous dividend of $0.09.

Insider Buying and Selling

In other news, VP Tony Huang purchased 2,300 shares of the stock in a transaction dated Thursday, October 17th. The shares were purchased at an average cost of $11.28 per share, with a total value of $25,944.00. Following the completion of the acquisition, the vice president now owns 9,400 shares in the company, valued at $106,032. This represents a 32.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tracy V. Maitland acquired 13,179 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was purchased at an average price of $11.28 per share, with a total value of $148,659.12. Following the completion of the transaction, the chief executive officer now directly owns 45,449 shares of the company’s stock, valued at $512,664.72. This trade represents a 40.84 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 19,264 shares of company stock valued at $217,298.

Institutional Investors Weigh In On Advent Convertible and Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in AVK. Capital Investment Advisors LLC purchased a new position in Advent Convertible and Income Fund in the 3rd quarter worth approximately $119,000. Trust Investment Advisors bought a new position in Advent Convertible and Income Fund in the second quarter valued at $133,000. Encompass More Asset Management purchased a new stake in Advent Convertible and Income Fund during the third quarter valued at about $140,000. Calton & Associates Inc. purchased a new stake in Advent Convertible and Income Fund during the third quarter valued at about $152,000. Finally, Jaffetilchin Investment Partners LLC lifted its stake in Advent Convertible and Income Fund by 29.7% during the second quarter. Jaffetilchin Investment Partners LLC now owns 14,080 shares of the investment management company’s stock worth $168,000 after purchasing an additional 3,222 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.