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

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Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) insider Advent Capital Management /De/ purchased 20,000 shares of the stock in a transaction dated Wednesday, October 10th. The shares were acquired at an average cost of $14.70 per share, for a total transaction of $294,000.00. Following the completion of the acquisition, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $1,470,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 acquired 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 acquired at an average cost of $15.70 per share, for a total transaction of $376,800.00.

Shares of AVK traded down $0.08 during trading hours on Friday, reaching $14.43. 174,256 shares of the company’s stock traded hands, compared to its average volume of 77,915. Advent Claymore Convertible Sec & Inc Fd has a twelve month low of $14.40 and a twelve month high of $16.50.

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th will be issued a dividend of $0.117 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.73%. This is a positive change from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.09. The ex-dividend date of this dividend is Friday, October 12th.

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Advent Claymore Convertible Sec & Inc Fd by 10.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 80,553 shares of the investment management company’s stock valued at $1,232,000 after purchasing an additional 7,741 shares during the period. First Trust Advisors LP boosted its stake in Advent Claymore Convertible Sec & Inc Fd by 12.9% during the second quarter. First Trust Advisors LP now owns 150,280 shares of the investment management company’s stock valued at $2,298,000 after buying an additional 17,133 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Advent Claymore Convertible Sec & Inc Fd by 9.5% during the second quarter. Advisors Asset Management Inc. now owns 574,249 shares of the investment management company’s stock valued at $8,780,000 after buying an additional 49,805 shares in the last quarter. Oxbow Advisors LLC bought a new position in Advent Claymore Convertible Sec & Inc Fd during the second quarter valued at about $2,281,000. Finally, Centaurus Financial Inc. bought a new position in Advent Claymore Convertible Sec & Inc Fd during the second quarter valued at about $153,000.

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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