LPL Financial LLC increased its stake in AllianzGI Convertible (NYSE:NCV) by 179.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,399 shares of the investment management company’s stock after buying an additional 40,040 shares during the period. LPL Financial LLC owned about 0.07% of AllianzGI Convertible worth $439,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. RBO & Co. LLC bought a new stake in shares of AllianzGI Convertible in the fourth quarter worth $109,000. Two Sigma Securities LLC bought a new stake in shares of AllianzGI Convertible in the fourth quarter worth $120,000. Citadel Advisors LLC bought a new stake in shares of AllianzGI Convertible in the fourth quarter worth $136,000. Claraphi Advisory Network LLC bought a new stake in shares of AllianzGI Convertible in the fourth quarter worth $260,000. Finally, NINE MASTS CAPITAL Ltd bought a new stake in shares of AllianzGI Convertible in the fourth quarter worth $390,000.
Shares of NYSE:NCV opened at $6.82 on Friday. AllianzGI Convertible has a 12-month low of $6.41 and a 12-month high of $7.28.
The business also recently declared a monthly dividend, which will be paid on Tuesday, May 1st. Investors of record on Thursday, April 12th will be paid a $0.065 dividend. The ex-dividend date of this dividend is Wednesday, April 11th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 11.44%.
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AllianzGI Convertible Profile
AllianzGI Convertible & Income Fund, formerly AGIC Convertible & 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 high current income. The Fund invests in a diversified portfolio of domestic convertible securities and non-convertible high-yield bonds rated below investment grade.
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