Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) Stock Short Interest Jumps 800.0%

Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 148,107 shares, a growth of 800.0% from the September 30th total of 16,457 shares. Based on an average daily volume of 83,022 shares, the short-interest ratio is currently 1.8 days.

Insiders Place Their Bets

In related news, major shareholder Metlife Investment Management, bought 880,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were bought at an average price of $25.00 per share, with a total value of $22,000,000.00. Following the transaction, the insider owned 296,000 shares in the company, valued at approximately $7,400,000. This trade represents a -150.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Calamos Dynamic Convertible and Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new stake in 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 in the 2nd quarter worth approximately $1,566,000. Advisory Solutions Group LLC purchased a new position in Calamos Dynamic Convertible and Income Fund in the 2nd quarter worth approximately $1,045,000. International Assets Investment Management LLC boosted its holdings in shares of Calamos Dynamic Convertible and Income Fund by 249.4% during the 3rd quarter. International Assets Investment Management LLC now owns 47,000 shares of the company’s stock worth $1,063,000 after purchasing an additional 33,548 shares during the last quarter. Finally, World Equity Group Inc. boosted its holdings in shares of Calamos Dynamic Convertible and Income Fund by 106.7% during the 1st quarter. World Equity Group Inc. now owns 46,266 shares of the company’s stock worth $988,000 after purchasing an additional 23,882 shares during the last quarter.

Calamos Dynamic Convertible and Income Fund Stock Performance

Shares of Calamos Dynamic Convertible and Income Fund stock opened at $22.17 on Thursday. The firm’s 50 day simple moving average is $23.55 and its two-hundred day simple moving average is $23.82. Calamos Dynamic Convertible and Income Fund has a 12-month low of $19.99 and a 12-month high of $26.99.

Calamos Dynamic Convertible and Income Fund Announces Dividend

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

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.