Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) major shareholder Saba Capital Management, L.P. sold 63,836 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $16.59, for a total transaction of $1,059,039.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of Advent Claymore Convertible Sec & Inc Fd (NYSE AVK) traded down 0.334% during midday trading on Friday, hitting $16.415. 42,978 shares of the company’s stock traded hands. Advent Claymore Convertible Sec & Inc Fd has a 1-year low of $13.33 and a 1-year high of $16.80. The company has a 50 day moving average price of $16.27 and a 200 day moving average price of $15.90.

The business also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be paid a $0.1138 dividend. The ex-dividend date of this dividend 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 8.29%.

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An institutional investor recently raised its position in Advent Claymore Convertible Sec & Inc Fd stock. First Trust Advisors LP increased its position in Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) by 15.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,982 shares of the investment management company’s stock after buying an additional 14,372 shares during the period. First Trust Advisors LP’s holdings in Advent Claymore Convertible Sec & Inc Fd were worth $1,728,000 at the end of the most recent reporting period.

Advent Claymore Convertible Sec & Inc Fd Company Profile

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)

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