Advent Claymore Convertible Sec & Inc Fd (AVK) to Issue Monthly Dividend of $0.12

Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) declared a monthly dividend on Thursday, November 1st, NASDAQ reports. Stockholders of record on Thursday, November 15th will be paid a dividend of 0.117 per share by the investment management company on Friday, November 30th. This represents a $1.40 annualized dividend and a dividend yield of 9.78%. The ex-dividend date of this dividend is Wednesday, November 14th. This is a positive change from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.09.

Advent Claymore Convertible Sec & Inc Fd has increased its dividend payment by an average of 4.5% annually over the last three years.

Shares of AVK stock traded down $0.15 on Friday, hitting $14.35. 12,397 shares of the stock traded hands, compared to its average volume of 81,999. Advent Claymore Convertible Sec & Inc Fd has a twelve month low of $13.60 and a twelve month high of $16.50.

In related news, insider Advent Capital Management /De/ bought 6,000 shares of the firm’s stock in a transaction on Thursday, September 27th. The shares were bought at an average price of $15.69 per share, with a total value of $94,140.00. Following the completion of the transaction, the insider now directly owns 80,000 shares of the company’s stock, valued at approximately $1,255,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Tony Huang bought 2,066 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was bought at an average cost of $15.66 per share, for a total transaction of $32,353.56. Following the transaction, the vice president now directly owns 7,100 shares of the company’s stock, valued at $111,186. The disclosure for this purchase can be found here. In the last three months, insiders have bought 114,066 shares of company stock worth $1,769,814.

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Advent Claymore Convertible Sec & Inc Fd Company Profile

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.

See Also: Exchange-Traded Funds (ETFs)

Dividend History for Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK)

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