Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) Shares Pass Below 50-Day Moving Average – Here’s What Happened

Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD)’s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $24.94 and traded as low as $23.28. Calamos Dynamic Convertible and Income Fund shares last traded at $23.59, with a volume of 54,286 shares trading hands.

Calamos Dynamic Convertible and Income Fund Stock Up 0.4%

The firm has a 50 day moving average of $24.94 and a 200-day moving average of $24.29.

Calamos Dynamic Convertible and Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, September 21st. Stockholders of record on Monday, September 14th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%.

Insider Activity at Calamos Dynamic Convertible and Income Fund

In other news, major shareholder Metlife Investment Management, purchased 880,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $22,000,000.00. Following the completion of the purchase, the insider owned 296,000 shares in the company, valued at approximately $7,400,000. This represents a -150.68% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new stake in shares of Calamos Dynamic Convertible and Income Fund in the 2nd quarter valued at about $7,788,000. Landscape Capital Management L.L.C. purchased a new position in Calamos Dynamic Convertible and Income Fund during the second quarter valued at approximately $1,566,000. Advisory Solutions Group LLC purchased a new position in Calamos Dynamic Convertible and Income Fund during the second quarter valued at approximately $1,045,000. World Equity Group Inc. raised its stake in Calamos Dynamic Convertible and Income Fund by 106.7% in the first quarter. World Equity Group Inc. now owns 46,266 shares of the company’s stock worth $988,000 after buying an additional 23,882 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in Calamos Dynamic Convertible and Income Fund by 3.9% in the first quarter. D.A. Davidson & CO. now owns 622,462 shares of the company’s stock worth $13,290,000 after buying an additional 23,349 shares in the last quarter.

Calamos Dynamic Convertible and Income Fund Company Profile

Calamos Dynamic Convertible and Income Fund (NASDAQ: CCD) is a diversified, closed-end management investment company that seeks total return through a combination of current income and capital appreciation. Listed on the NASDAQ Global Select Market, CCD provides investors access to a portfolio primarily composed of convertible securities, supplemented by fixed-income and equity instruments. By blending the features of bonds and equity, the fund aims to capture upside potential in rising markets while offering downside protection in more volatile conditions.

The fund’s investment strategy emphasizes convertible bonds, convertible preferred stocks, and other hybrid instruments, alongside selective allocations to corporate debt, high-yield securities, common stocks, and derivative overlays.