Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) major shareholder Saba Capital Management, L.P. sold 1,063 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $16.00, for a total value of $17,008.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

  • On Thursday, August 17th, Saba Capital Management, L.P. sold 7,210 shares of Advent Claymore Convertible Sec & Inc Fd stock. The shares were sold at an average price of $16.04, for a total value of $115,648.40.
  • On Thursday, August 10th, Saba Capital Management, L.P. sold 8,500 shares of Advent Claymore Convertible Sec & Inc Fd stock. The shares were sold at an average price of $16.18, for a total value of $137,530.00.
  • On Tuesday, August 8th, Saba Capital Management, L.P. sold 36,803 shares of Advent Claymore Convertible Sec & Inc Fd stock. The shares were sold at an average price of $16.39, for a total value of $603,201.17.
  • On Monday, August 7th, Saba Capital Management, L.P. sold 4,185 shares of Advent Claymore Convertible Sec & Inc Fd stock. The shares were sold at an average price of $16.45, for a total value of $68,843.25.
  • On Thursday, August 3rd, Saba Capital Management, L.P. sold 63,836 shares of Advent Claymore Convertible Sec & Inc Fd stock. The shares were sold at an average price of $16.59, for a total value of $1,059,039.24.

Shares of Advent Claymore Convertible Sec & Inc Fd (AVK) traded up 0.19% on Tuesday, hitting $15.98. The stock had a trading volume of 68,640 shares. Advent Claymore Convertible Sec & Inc Fd has a 12 month low of $13.33 and a 12 month high of $16.80. The firm has a 50 day moving average of $16.30 and a 200 day moving average of $15.98.

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be paid a $0.1138 dividend. The ex-dividend date is Friday, August 11th. This is an increase from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.11. This represents a $1.37 dividend on an annualized basis and a dividend yield of 8.55%.

ILLEGAL ACTIVITY NOTICE: “Saba Capital Management, L.P. Sells 1,063 Shares of Advent Claymore Convertible Sec & Inc Fd (AVK) Stock” was first reported by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark legislation. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/saba-capital-management-l-p-sells-1063-shares-of-advent-claymore-convertible-sec-inc-fd-avk-stock/1516248.html.

Hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP increased its stake in Advent Claymore Convertible Sec & Inc Fd by 15.5% in the second quarter. First Trust Advisors LP now owns 106,982 shares of the investment management company’s stock worth $1,728,000 after buying an additional 14,372 shares during the period. Advisors Asset Management Inc. increased its stake in Advent Claymore Convertible Sec & Inc Fd by 1.2% in the second quarter. Advisors Asset Management Inc. now owns 472,311 shares of the investment management company’s stock worth $7,628,000 after buying an additional 5,766 shares during the period. Wells Fargo & Company MN increased its stake in Advent Claymore Convertible Sec & Inc Fd by 12.6% in the second quarter. Wells Fargo & Company MN now owns 770,011 shares of the investment management company’s stock worth $12,436,000 after buying an additional 86,131 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in Advent Claymore Convertible Sec & Inc Fd by 19.5% in the second quarter. Nations Financial Group Inc. IA ADV now owns 19,058 shares of the investment management company’s stock worth $312,000 after buying an additional 3,116 shares during the period. Finally, Edmonds Duncan Registered Investment Advisors LLC increased its stake in Advent Claymore Convertible Sec & Inc Fd by 6.8% in the second quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 41,239 shares of the investment management company’s stock worth $666,000 after buying an additional 2,608 shares during the period.

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.

Insider Buying and Selling by Quarter for Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK)

Receive News & Ratings for Advent Claymore Convertible Sec & Inc Fd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advent Claymore Convertible Sec & Inc Fd and related companies with Analyst Ratings Network's FREE daily email newsletter.