Advent Claymore Convertible Sec & Inc Fd (AVK) Insider Acquires $294,000.00 in Stock

Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) insider Advent Capital Management /De/ purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, October 10th. The shares were purchased at an average cost of $14.70 per share, for a total transaction of $294,000.00. Following the transaction, the insider now directly owns 100,000 shares in the company, valued at $1,470,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Advent Capital Management /De/ also recently made the following trade(s):

  • On Thursday, September 27th, Advent Capital Management /De/ purchased 6,000 shares of Advent Claymore Convertible Sec & Inc Fd stock. The shares were purchased at an average cost of $15.69 per share, for a total transaction of $94,140.00.
  • On Monday, September 10th, Advent Capital Management /De/ purchased 24,000 shares of Advent Claymore Convertible Sec & Inc Fd stock. The shares were purchased at an average cost of $15.70 per share, for a total transaction of $376,800.00.

Shares of NYSE AVK traded down $0.15 during trading on Friday, reaching $14.48. 8,507 shares of the stock traded hands, compared to its average volume of 77,426. Advent Claymore Convertible Sec & Inc Fd has a 52-week low of $14.53 and a 52-week high of $16.50.

The company also recently declared a monthly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th will be given a dividend of $0.117 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.70%. The ex-dividend date of this dividend is Friday, October 12th. This is a boost from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.09.

A number of institutional investors and hedge funds have recently modified their holdings of AVK. Centaurus Financial Inc. purchased a new stake in Advent Claymore Convertible Sec & Inc Fd during the 2nd quarter worth about $153,000. We Are One Seven LLC purchased a new stake in Advent Claymore Convertible Sec & Inc Fd during the 3rd quarter worth about $253,000. Baird Financial Group Inc. lifted its holdings in Advent Claymore Convertible Sec & Inc Fd by 18.3% during the 2nd quarter. Baird Financial Group Inc. now owns 27,275 shares of the investment management company’s stock worth $417,000 after purchasing an additional 4,222 shares in the last quarter. LPL Financial LLC lifted its holdings in Advent Claymore Convertible Sec & Inc Fd by 21.7% during the 1st quarter. LPL Financial LLC now owns 45,295 shares of the investment management company’s stock worth $683,000 after purchasing an additional 8,090 shares in the last quarter. Finally, Quad Cities Investment Group LLC purchased a new stake in Advent Claymore Convertible Sec & Inc Fd during the 1st quarter worth about $714,000.

About Advent Claymore Convertible Sec & Inc Fd

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.

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