Insider Buying: Advent Claymore Convertible Sec & Inc Fd (AVK) Insider Buys $202,950.00 in Stock
Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) insider Advent Capital Management /De/ acquired 15,000 shares of the stock in a transaction dated Wednesday, January 9th. The stock was acquired at an average cost of $13.53 per share, for a total transaction of $202,950.00. Following the purchase, the insider now directly owns 115,000 shares in the company, valued at $1,555,950. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of AVK opened at $13.73 on Monday. Advent Claymore Convertible Sec & Inc Fd has a 12-month low of $12.07 and a 12-month high of $16.50.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Tuesday, January 15th will be paid a $0.117 dividend. The ex-dividend date of this dividend is Monday, January 14th. This represents a $1.40 annualized dividend and a dividend yield of 10.23%. This is a boost from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.09.
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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.
Further Reading: Purposes and Functions of the Federal Reserve
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