Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) by 21.5% during the first quarter, Holdings Channel reports. The fund owned 329,464 shares of the investment management company’s stock after selling 90,237 shares during the period. JPMorgan Chase & Co.’s holdings in Advent Claymore Convertible Sec & Inc Fd were worth $4,863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mid Atlantic Financial Management Inc. ADV raised its position in Advent Claymore Convertible Sec & Inc Fd by 1.5% during the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 95,119 shares of the investment management company’s stock valued at $1,404,000 after purchasing an additional 1,360 shares in the last quarter. Raymond James & Associates raised its position in Advent Claymore Convertible Sec & Inc Fd by 2.8% during the first quarter. Raymond James & Associates now owns 1,235,125 shares of the investment management company’s stock valued at $18,230,000 after purchasing an additional 33,078 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Advent Claymore Convertible Sec & Inc Fd by 4.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 201,928 shares of the investment management company’s stock valued at $2,980,000 after purchasing an additional 8,204 shares in the last quarter. Oxbow Advisors LLC raised its position in Advent Claymore Convertible Sec & Inc Fd by 0.6% during the first quarter. Oxbow Advisors LLC now owns 140,176 shares of the investment management company’s stock valued at $2,069,000 after purchasing an additional 823 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its position in Advent Claymore Convertible Sec & Inc Fd by 20.8% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 7,126 shares of the investment management company’s stock valued at $105,000 after purchasing an additional 1,227 shares in the last quarter.

NYSE AVK opened at $14.67 on Friday. Advent Claymore Convertible Sec & Inc Fd has a fifty-two week low of $12.07 and a fifty-two week high of $15.89.

The business also recently announced a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.117 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.57%. The ex-dividend date is Thursday, June 13th. This is a boost from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.09.

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Advent Claymore Convertible Sec & Inc Fd Profile

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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