Advent Claymore Convertible Sec & Inc Fd (AVK) VP Buys $32,353.56 in Stock

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Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) VP Tony Huang bought 2,066 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was purchased at an average price of $15.66 per share, for a total transaction of $32,353.56. Following the acquisition, the vice president now directly owns 7,100 shares in the company, valued at $111,186. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

AVK traded down $0.03 during trading on Friday, hitting $15.70. The stock had a trading volume of 164,213 shares, compared to its average volume of 71,061. Advent Claymore Convertible Sec & Inc Fd has a 12 month low of $14.62 and a 12 month high of $16.50.

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.1172 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.41 annualized dividend and a dividend yield of 8.96%.

Several large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its holdings in shares of Advent Claymore Convertible Sec & Inc Fd by 9.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 574,249 shares of the investment management company’s stock worth $8,780,000 after purchasing an additional 49,805 shares during the period. Centaurus Financial Inc. bought a new position in shares of Advent Claymore Convertible Sec & Inc Fd during the 2nd quarter worth about $153,000. Bank of America Corp DE increased its holdings in shares of Advent Claymore Convertible Sec & Inc Fd by 15.1% during the 2nd quarter. Bank of America Corp DE now owns 382,729 shares of the investment management company’s stock worth $5,851,000 after purchasing an additional 50,178 shares during the period. Raymond James & Associates increased its holdings in shares of Advent Claymore Convertible Sec & Inc Fd by 2.3% during the 2nd quarter. Raymond James & Associates now owns 301,081 shares of the investment management company’s stock worth $4,604,000 after purchasing an additional 6,753 shares during the period. Finally, Baird Financial Group Inc. increased its holdings in shares of Advent Claymore Convertible Sec & Inc Fd by 18.3% during the 2nd quarter. Baird Financial Group Inc. now owns 27,275 shares of the investment management company’s stock worth $417,000 after purchasing an additional 4,222 shares during the period.

About Advent Claymore Convertible Sec & Inc Fd

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: Leveraged Buyout (LBO)

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