Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) Share Price Breaks Below Fifty Day Moving Average – Time to Sell?

Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) shares passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $24.01 and traded as low as $21.75. Calamos Dynamic Convertible and Income Fund shares last traded at $22.09, with a volume of 136,960 shares trading hands.

Calamos Dynamic Convertible and Income Fund Stock Down 2.0%

The company has a 50 day simple moving average of $23.84 and a 200-day simple moving average of $24.51.

Calamos Dynamic Convertible and Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 14th were given a dividend of $0.1950 per share. This represents a $2.34 annualized dividend and a dividend yield of 10.6%. The ex-dividend date of this dividend was Wednesday, October 14th.

Insider Activity

In other news, major shareholder Metlife Investment Management, acquired 880,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $22,000,000.00. Following the completion of the acquisition, the insider owned 296,000 shares in the company, valued at $7,400,000. This represents a -150.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Calamos Dynamic Convertible and Income Fund

Several institutional investors have recently bought and sold shares of CCD. D.A. Davidson & CO. grew its stake in shares of Calamos Dynamic Convertible and Income Fund by 3.9% during the 1st quarter. D.A. Davidson & CO. now owns 622,462 shares of the company’s stock worth $13,290,000 after acquiring an additional 23,349 shares in the last quarter. Bank of America Corp DE boosted its holdings in Calamos Dynamic Convertible and Income Fund by 3.5% during the first quarter. Bank of America Corp DE now owns 314,124 shares of the company’s stock worth $6,707,000 after purchasing an additional 10,689 shares during the last quarter. Royal Bank of Canada grew its position in Calamos Dynamic Convertible and Income Fund by 4.5% in the first quarter. Royal Bank of Canada now owns 185,980 shares of the company’s stock valued at $3,971,000 after purchasing an additional 8,068 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in Calamos Dynamic Convertible and Income Fund in the second quarter valued at $1,566,000. Finally, PMG Family Office LLC increased its stake in Calamos Dynamic Convertible and Income Fund by 1.1% in the 3rd quarter. PMG Family Office LLC now owns 59,411 shares of the company’s stock valued at $1,344,000 after buying an additional 637 shares during the last quarter.

About Calamos Dynamic Convertible and Income Fund

Calamos Dynamic Convertible and Income Fund (NASDAQ: CCD) is a closed-end investment company managed by Calamos Advisors LLC. The fund seeks to provide total return through a combination of current income and capital appreciation.

CCD invests primarily in convertible securities and other income-producing investments, including corporate debt, high-yield bonds, preferred stocks and common stocks. Convertible securities may provide the potential for equity participation while retaining bond-like income and downside characteristics, although the fund’s portfolio is subject to credit, interest-rate and market risks.

The fund may invest in securities issued by companies in the United States and other countries, giving it exposure to a range of industries and global markets.