Advent Claymore Convertible Sec & Inc Fd (AVK) Raises Dividend to $0.11 Per Share
Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) announced a monthly dividend on Friday, September 1st, NASDAQ reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.114 per share by the investment management company on Friday, September 29th. This represents a $1.37 annualized dividend and a dividend yield of 8.54%. The ex-dividend date is Thursday, September 14th. This is a boost from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.11.
Shares of Advent Claymore Convertible Sec & Inc Fd (NYSE AVK) traded down 1.72% during trading on Friday, reaching $16.01. 115,716 shares of the company traded hands. The firm’s 50 day moving average is $16.25 and its 200-day moving average is $15.99. Advent Claymore Convertible Sec & Inc Fd has a 12-month low of $13.33 and a 12-month high of $16.80.
In other news, major shareholder Saba Capital Management, L.P. sold 24,613 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $15.98, for a total value of $393,315.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 267,505 shares of company stock worth $4,343,291.
About Advent Claymore Convertible Sec & Inc Fd
Advent Claymore Convertible Securities and Income Fund is a diversified, closed-end management investment company. The Fund’s investment objective is to provide total return through a combination of capital appreciation and current income. Under normal market conditions, the Fund invests approximately 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income securities.
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