Advent Claymore Convertible Sec & Inc Fd (AVK) Raises Dividend to $0.12 Per Share

Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) announced a monthly dividend on Wednesday, November 1st, NASDAQ reports. Stockholders of record on Wednesday, November 15th will be given a dividend of 0.115 per share by the investment management company on Thursday, November 30th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 8.79%. The ex-dividend date is Tuesday, November 14th. This is a boost from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.09.

Shares of Advent Claymore Convertible Sec & Inc Fd (AVK) traded up $0.04 during trading on Friday, reaching $15.70. 53,112 shares of the company were exchanged, compared to its average volume of 82,150. Advent Claymore Convertible Sec & Inc Fd has a 12 month low of $13.91 and a 12 month high of $16.80.

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In related news, major shareholder Saba Capital Management, L.P. sold 17,920 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $16.03, for a total transaction of $287,257.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 146,971 shares of company stock worth $2,359,029.

About Advent Claymore Convertible Sec & Inc Fd

Advent Claymore Convertible Securities and 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 current income. Under normal market conditions, the Fund invests approximately 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income securities.

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

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