Wells Fargo & Company MN Raises Stock Position in Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK)

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Wells Fargo & Company MN grew its holdings in shares of Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 589,855 shares of the investment management company’s stock after purchasing an additional 11,523 shares during the period. Wells Fargo & Company MN’s holdings in Advent Claymore Convertible Sec & Inc Fd were worth $8,883,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AVK. Icon Wealth Partners LLC purchased a new stake in Advent Claymore Convertible Sec & Inc Fd during the first quarter worth about $31,000. Steward Partners Investment Advisory LLC purchased a new stake in Advent Claymore Convertible Sec & Inc Fd during the second quarter worth about $47,000. Millennium Management LLC purchased a new stake in Advent Claymore Convertible Sec & Inc Fd during the fourth quarter worth about $142,000. Vanguard Capital Wealth Advisors purchased a new stake in Advent Claymore Convertible Sec & Inc Fd during the second quarter worth about $163,000. Finally, Virtue Capital Management LLC increased its stake in Advent Claymore Convertible Sec & Inc Fd by 18.9% during the first quarter. Virtue Capital Management LLC now owns 12,785 shares of the investment management company’s stock worth $189,000 after purchasing an additional 2,029 shares during the period.

In related news, insider Michael A. Smart acquired 4,697 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $14.24 per share, with a total value of $66,885.28. Following the completion of the transaction, the insider now owns 4,805 shares in the company, valued at approximately $68,423.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have bought 6,913 shares of company stock valued at $88,726.

Shares of Advent Claymore Convertible Sec & Inc Fd stock traded up $0.02 on Friday, reaching $14.63. 15,687 shares of the company were exchanged, compared to its average volume of 106,687. Advent Claymore Convertible Sec & Inc Fd has a 1-year low of $12.07 and a 1-year high of $15.85. The stock’s 50 day moving average price is $14.50 and its 200-day moving average price is $14.67.

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.117 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.09. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.60%.

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.

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Institutional Ownership by Quarter for Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK)

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