Advent Convertible and Income Fund (AVK) to Issue Monthly Dividend of $0.12 on May 31st

Advent Convertible and Income Fund (NYSE:AVK) announced a monthly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.117 per share by the investment management company on Friday, May 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 11.76%. The ex-dividend date of this dividend is Tuesday, May 14th.

Advent Convertible and Income Fund Stock Performance

NYSE:AVK traded up $0.21 during mid-day trading on Friday, hitting $11.94. 111,471 shares of the stock were exchanged, compared to its average volume of 117,419. The firm’s 50-day simple moving average is $11.77 and its 200 day simple moving average is $11.19. Advent Convertible and Income Fund has a fifty-two week low of $9.24 and a fifty-two week high of $12.16.

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.