Advent Convertible and Income Fund (NYSE:AVK) Stock Passes Below 200-Day Moving Average – What’s Next?

Advent Convertible and Income Fund (NYSE:AVK)’s share price passed 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 changing hands.

Advent Convertible and Income Fund Trading Down 1.1 %

The company’s fifty day simple moving average is $11.95 and its 200 day simple moving average is $11.85.

Advent Convertible and Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.1172 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 12.18%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AVK. Ameriflex Group Inc. bought a new position in shares of Advent Convertible and Income Fund in the fourth quarter worth $66,000. Waverly Advisors LLC purchased a new stake in Advent Convertible and Income Fund during the 4th quarter worth about $699,000. CoreCap Advisors LLC boosted its stake in Advent Convertible and Income Fund by 113.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,050 shares of the investment management company’s stock worth $330,000 after purchasing an additional 14,900 shares during the period. CF Capital LLC purchased a new stake in shares of Advent Convertible and Income Fund in the fourth quarter worth $1,011,000. Finally, Baird Financial Group Inc. boosted its stake in Advent Convertible and Income Fund by 2.2% during the fourth quarter. Baird Financial Group Inc. now owns 295,570 shares of the investment management company’s stock valued at $3,479,000 after buying an additional 6,261 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.