Saba Capital Management, L.P.

recently revealed that they own a 11.3% stake in Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC) in a Form 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Tuesday, September 19th. The investor owns 3,081,994 shares of the stock worth about $18,676,884. The reporting parties listed on the disclosure included Saba Capital Management, LP and Boaz R Weinstein. The filing is available through EDGAR at this link.

Several other large investors also recently added to or reduced their stakes in AGC. Royal Bank of Canada raised its holdings in shares of Advent Claymore Convertible Securities and Income Fund of Beneficial Interest by 0.3% during the second quarter. Royal Bank of Canada now owns 24,847 shares of the exchange traded fund’s stock valued at $155,000 after acquiring an additional 80 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Advent Claymore Convertible Securities and Income Fund of Beneficial Interest by 1.5% during the second quarter. Advisor Group Inc. now owns 66,161 shares of the exchange traded fund’s stock valued at $412,000 after acquiring an additional 966 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Advent Claymore Convertible Securities and Income Fund of Beneficial Interest by 2.3% during the second quarter. JPMorgan Chase & Co. now owns 1,003,308 shares of the exchange traded fund’s stock valued at $6,251,000 after acquiring an additional 22,322 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Advent Claymore Convertible Securities and Income Fund of Beneficial Interest during the second quarter valued at approximately $305,000. Finally, Shaker Financial Services LLC raised its holdings in shares of Advent Claymore Convertible Securities and Income Fund of Beneficial Interest by 415.9% during the second quarter. Shaker Financial Services LLC now owns 100,474 shares of the exchange traded fund’s stock valued at $626,000 after acquiring an additional 81,000 shares in the last quarter.

Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (AGC) traded up 0.17% during trading on Tuesday, reaching $6.07. The company’s stock had a trading volume of 79,308 shares. The firm’s 50-day moving average price is $6.19 and its 200 day moving average price is $6.22. Advent Claymore Convertible Securities and Income Fund of Beneficial Interest has a 12-month low of $5.25 and a 12-month high of $6.49.

The company also recently announced a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.047 per share. This represents a $0.56 dividend on an annualized basis and a yield of 9.31%. The ex-dividend date is Thursday, September 14th.

ILLEGAL ACTIVITY WARNING: This report was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://www.thecerbatgem.com/2017/09/19/advent-claymore-convertible-securities-and-income-fund-of-beneficial-interest-agc-stake-owned-by-saba-capital-management-l-p.html.

In other news, major shareholder Saba Capital Management, L.P. sold 57,640 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $6.38, for a total value of $367,743.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Tony Huang sold 8,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $6.15, for a total value of $49,200.00. Following the completion of the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at $12,300. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,051,320 shares of company stock valued at $6,511,670.

Want to see what other hedge funds are holding AGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC).

Institutional Ownership by Quarter for Advent Claymore Convertible Securities and Income Fund of Beneficial Interest (NYSE:AGC)

Receive News & Stock Ratings for Advent Claymore Convertible Securities and Income Fund of Beneficial Interest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advent Claymore Convertible Securities and Income Fund of Beneficial Interest and related stocks with our FREE daily email newsletter.