Advisors Asset Management Inc. lowered its stake in Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC) by 31.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,062,398 shares of the exchange traded fund’s stock after selling 488,603 shares during the period. Advisors Asset Management Inc.’s holdings in Advent Claymore Convertible Securities and Income Fund of Beneficial Interest were worth $6,619,000 at the end of the most recent reporting period.

Separately, Shaker Financial Services LLC increased its position in Advent Claymore Convertible Securities and Income Fund of Beneficial Interest by 415.9% in the second quarter. Shaker Financial Services LLC now owns 100,474 shares of the exchange traded fund’s stock worth $626,000 after buying an additional 81,000 shares during the period.

Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC) opened at 6.20 on Wednesday. Advent Claymore Convertible Securities and Income Fund of Beneficial Interest has a 52-week low of $5.25 and a 52-week high of $6.49. The company has a 50-day moving average of $6.31 and a 200-day moving average of $6.22.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.047 per share. The ex-dividend date is Friday, August 11th. This represents a $0.56 annualized dividend and a yield of 9.10%.

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In related news, insider Advent Capital Management /De/ sold 75,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $6.10, for a total transaction of $457,500.00. Following the completion of the transaction, the insider now owns 504,000 shares in the company, valued at $3,074,400. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Saba Capital Management, L.P. sold 20,597 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $6.34, for a total transaction of $130,584.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,207 shares of company stock worth $1,366,439.

Want to see what other hedge funds are holding AGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC).

Institutional Ownership by Quarter for Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC)

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