It was reported on July 19 that according to documents disclosed by the US Securities and Exchange Commission (SEC) on July 18,$Advent Claymore Convertible Securities & Income Fund (AVK.US)$Another relevant party, ADVENT CAPITAL Management/DE/, sold 59,000 common shares at an average price of US$116,902 per share on July 14, 17, and 18, with a value of approximately US$693,300.
This transaction involves another related party: MAITLAND TRACY V.
What is a statement of change in shareholding?
The SEC requires insiders of listed companies to publicly disclose their securities transactions and shareholding. When an insider's shareholding changes, depending on different circumstances, it is necessary to submit a statement of change in shareholding to the SEC within a certain period of time after the transaction is completed.
Insiders include the company's directors and executives, as well as any shareholder who owns 10% or more of the company's tradable shares.