Advent Convertible and Income Fund Declares Monthly Dividend of $0.12 (NYSE:AVK)

Advent Convertible and Income Fund (NYSE:AVK) declared a monthly dividend on Thursday, July 3rd, Wall Street Journal reports. Investors of record on Tuesday, July 15th will be given a dividend of 0.1172 per share by the investment management company on Thursday, July 31st. This represents a $1.41 dividend on an annualized basis and a yield of 11.50%. The ex-dividend date is Tuesday, July 15th.

Advent Convertible and Income Fund Stock Performance

NYSE AVK opened at $12.23 on Friday. Advent Convertible and Income Fund has a 12-month low of $9.75 and a 12-month high of $12.97. The company has a 50 day moving average price of $11.65 and a two-hundred day moving average price of $11.67.

Institutional Investors Weigh In On Advent Convertible and Income Fund

A hedge fund recently raised its stake in Advent Convertible and Income Fund stock. Geneos Wealth Management Inc. grew its stake in Advent Convertible and Income Fund (NYSE:AVK) by 301.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,975 shares of the investment management company’s stock after buying an additional 2,984 shares during the period. Geneos Wealth Management Inc.’s holdings in Advent Convertible and Income Fund were worth $46,000 as of its most recent SEC filing.

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.