Advent Convertible and Income Fund (NYSE:AVK) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Advent Convertible and Income Fund (NYSE:AVK) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.89 and traded as low as $11.44. Advent Convertible and Income Fund shares last traded at $11.55, with a volume of 107,033 shares.

Advent Convertible and Income Fund Price Performance

The stock has a 50 day moving average of $11.99 and a 200-day moving average of $11.89.

Advent Convertible and Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.1172 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 12.08%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameriflex Group Inc. purchased a new stake in shares of Advent Convertible and Income Fund during the 4th quarter worth about $66,000. Wolverine Asset Management LLC purchased a new stake in Advent Convertible and Income Fund in the 4th quarter worth $101,000. Encompass More Asset Management acquired a new position in Advent Convertible and Income Fund during the third quarter worth $140,000. Landscape Capital Management L.L.C. purchased a new position in Advent Convertible and Income Fund during the fourth quarter valued at $147,000. Finally, Jaffetilchin Investment Partners LLC grew its position in shares of Advent Convertible and Income Fund by 21.3% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 16,342 shares of the investment management company’s stock valued at $192,000 after purchasing an additional 2,867 shares during the period.

About Advent Convertible and Income Fund

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.