Saba Capital Management, L.P. Sells 64,970 Shares of Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC) Stock

Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC) major shareholder Saba Capital Management, L.P. sold 64,970 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $6.32, for a total value of $410,610.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

  • On Monday, August 7th, Saba Capital Management, L.P. sold 20,597 shares of Advent Claymore Convertible Securities and Income Fund of Beneficial Interest stock. The shares were sold at an average price of $6.34, for a total value of $130,584.98.
  • On Thursday, August 3rd, Saba Capital Management, L.P. sold 57,640 shares of Advent Claymore Convertible Securities and Income Fund of Beneficial Interest stock. The shares were sold at an average price of $6.38, for a total value of $367,743.20.

Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE AGC) opened at 6.12 on Friday. The firm has a 50-day moving average price of $6.31 and a 200 day moving average price of $6.22. Advent Claymore Convertible Securities and Income Fund of Beneficial Interest has a 1-year low of $5.25 and a 1-year high of $6.49.

The business also recently declared a monthly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be given a $0.047 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 9.22%.

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Several large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its stake in Advent Claymore Convertible Securities and Income Fund of Beneficial Interest by 1.5% in the second quarter. Advisor Group Inc. now owns 66,161 shares of the exchange traded fund’s stock worth $412,000 after buying an additional 966 shares during the period. JPMorgan Chase & Co. raised its stake in Advent Claymore Convertible Securities and Income Fund of Beneficial Interest by 2.3% in the second quarter. JPMorgan Chase & Co. now owns 1,003,308 shares of the exchange traded fund’s stock worth $6,251,000 after buying an additional 22,322 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Advent Claymore Convertible Securities and Income Fund of Beneficial Interest during the second quarter worth approximately $305,000. Finally, Shaker Financial Services LLC raised its stake in Advent Claymore Convertible Securities and Income Fund of Beneficial Interest by 415.9% in the second quarter. Shaker Financial Services LLC now owns 100,474 shares of the exchange traded fund’s stock worth $626,000 after buying an additional 81,000 shares during the period.

Insider Buying and Selling by Quarter for Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC)

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