Saba Capital Management L.P. Sells 275,201 Shares of Advent Claymore Convertible Sec & Inc Fd (AVK)

Saba Capital Management L.P. decreased its position in shares of Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) by 49.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 280,643 shares of the investment management company’s stock after selling 275,201 shares during the quarter. Saba Capital Management L.P.’s holdings in Advent Claymore Convertible Sec & Inc Fd were worth $4,232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVK. Sigma Planning Corp purchased a new position in shares of Advent Claymore Convertible Sec & Inc Fd during the 4th quarter valued at $217,000. First Trust Advisors LP lifted its stake in shares of Advent Claymore Convertible Sec & Inc Fd by 8.4% during the 4th quarter. First Trust Advisors LP now owns 130,741 shares of the investment management company’s stock valued at $2,076,000 after buying an additional 10,101 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Advent Claymore Convertible Sec & Inc Fd by 45.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 89,099 shares of the investment management company’s stock valued at $1,415,000 after buying an additional 27,812 shares in the last quarter. Doliver Capital Advisors LP lifted its stake in shares of Advent Claymore Convertible Sec & Inc Fd by 16.3% during the 4th quarter. Doliver Capital Advisors LP now owns 50,306 shares of the investment management company’s stock valued at $799,000 after buying an additional 7,068 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Advent Claymore Convertible Sec & Inc Fd during the 4th quarter valued at $598,000.

Advent Claymore Convertible Sec & Inc Fd opened at $15.73 on Thursday, according to MarketBeat.com. Advent Claymore Convertible Sec & Inc Fd has a fifty-two week low of $14.62 and a fifty-two week high of $16.80.

The company also recently announced a monthly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a dividend of $0.1172 per share. This is a boost from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.12. The ex-dividend date is Thursday, June 14th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 8.94%.

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.

Want to see what other hedge funds are holding AVK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK).

Institutional Ownership 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 MarketBeat.com's FREE daily email newsletter.

Leave a Reply