Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) Sees Large Growth in Short Interest

Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 148,107 shares, a growth of 800.0% from the September 30th total of 16,457 shares. Based on an average daily trading volume, of 83,022 shares, the days-to-cover ratio is currently 1.8 days.

Calamos Dynamic Convertible and Income Fund Stock Down 0.2%

CCD traded down $0.04 on Wednesday, hitting $22.09. The company’s stock had a trading volume of 61,061 shares, compared to its average volume of 81,383. Calamos Dynamic Convertible and Income Fund has a 12 month low of $19.99 and a 12 month high of $26.99. The company’s 50 day simple moving average is $23.63 and its 200-day simple moving average is $23.82.

Calamos Dynamic Convertible and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Wednesday, October 21st. Shareholders of record on Wednesday, October 14th were paid a $0.1950 dividend. The ex-dividend date was Wednesday, October 14th. This represents a $2.34 annualized dividend and a yield of 10.6%.

Insiders Place Their Bets

In other Calamos Dynamic Convertible and Income Fund news, major shareholder Metlife Investment Management, acquired 880,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were acquired at an average cost of $25.00 per share, with a total value of $22,000,000.00. Following the completion of the acquisition, the insider directly owned 296,000 shares in the company, valued at $7,400,000. This trade represents a -150.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On Calamos Dynamic Convertible and Income Fund

Institutional investors have recently added to or reduced their stakes in the business. Apeiron RIA LLC lifted its position in Calamos Dynamic Convertible and Income Fund by 3.8% during the third quarter. Apeiron RIA LLC now owns 12,266 shares of the company’s stock valued at $276,000 after purchasing an additional 446 shares during the last quarter. Quad Cities Investment Group LLC lifted its position in Calamos Dynamic Convertible and Income Fund by 2.8% in the second quarter. Quad Cities Investment Group LLC now owns 17,038 shares of the company’s stock valued at $439,000 after purchasing an additional 471 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Calamos Dynamic Convertible and Income Fund by 1.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 35,409 shares of the company’s stock valued at $801,000 after buying an additional 625 shares during the period. International Assets Investment Management LLC grew its stake in shares of Calamos Dynamic Convertible and Income Fund by 4.7% in the first quarter. International Assets Investment Management LLC now owns 14,017 shares of the company’s stock worth $310,000 after purchasing an additional 635 shares during the last quarter. Finally, PMG Family Office LLC grew its position in shares of Calamos Dynamic Convertible and Income Fund by 1.1% in the 3rd quarter. PMG Family Office LLC now owns 59,411 shares of the company’s stock worth $1,344,000 after buying an additional 637 shares during the last quarter.

About Calamos Dynamic Convertible and Income Fund

Calamos Dynamic Convertible and Income Fund (NASDAQ: CCD) is a closed-end investment company managed by Calamos Advisors LLC. The fund seeks to provide total return through a combination of current income and capital appreciation.

CCD invests primarily in convertible securities and other income-producing investments, including corporate debt, high-yield bonds, preferred stocks and common stocks. Convertible securities may provide the potential for equity participation while retaining bond-like income and downside characteristics, although the fund’s portfolio is subject to credit, interest-rate and market risks.

The fund may invest in securities issued by companies in the United States and other countries, giving it exposure to a range of industries and global markets.