AVK

Advent Convertible and Income Fund
AVK

$12.18

0.95%

Market Cap: $421M

About: Advent Convertible & Income Fund is a diversified, closed-end management investment company. The fund's investment objective is to provide total return through a combination of capital appreciation and current income. The Fund invests in various sectors, such as communications, utilities, energy, industrial, technology, and others.

0

Funds holding %

of 6,710 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

36% more repeat investments, than reductions

Existing positions increased: 30 | Existing positions reduced: 22

1% more funds holding

Funds holding: 86 [Q1] → 87 (+1) [Q2]

8% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 12

5.97% less ownership

Funds ownership: 29.8% [Q1] → 23.84% (-5.97%) [Q2]

20% less capital invested

Capital invested by funds: $123M [Q1] → $98.3M (-$24.8M) [Q2]

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Research analyst outlook

We haven’t received any recent analyst ratings for AVK.

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Financial journalist opinion

Based on 3 articles about AVK published over the past 30 days

Advent Convertible and Income Fund (NYSE: AVK) Announces Updated Dates for October Distribution

NEW YORK, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Advent Convertible and Income Fund (NYSE: AVK) (the “Fund”) announced updated record and ex-dividend dates for its October Distribution.

Advent Convertible and Income Fund (NYSE: AVK) Announces Updated Dates for October Distribution

Advent Convertible and Income Fund (NYSE: AVK) Announces Terms of Rights Offering and Declares October Distribution

NEW YORK, Sept. 10, 2024 (GLOBE NEWSWIRE) -- The board of trustees (the “Board”) of Advent Convertible and Income Fund (NYSE: AVK) (the “Fund”) has approved the terms of the issuance of transferable rights (“Rights”) to the holders of the Fund's common shares (the “Common Shareholders”) of beneficial interest, par value $0.001 per share (“Common Shares”), as of the record date, entitling the holders of those Rights to subscribe for Common Shares (the “Offer”). The Board, based on the recommendations and presentations of the Fund's investment adviser, Advent Capital Management, LLC (“Advent” or the “Adviser”), and others, has determined that it is in the best interests of the Fund and the Common Shareholders to conduct the Offer and thereby to increase the assets of the Fund available for investment. In making this determination, the Board considered a number of factors, including potential benefits and costs. In particular, the Board considered the Adviser's belief that the Offer would enable the Fund to take advantage of existing and future investment opportunities for convertible securities and non-convertible income producing securities that may be or may become available, consistent with the Fund's investment objective of providing total return through a combination of capital appreciation and current income. The Offer also seeks to provide an opportunity to existing Common Shareholders to purchase Common Shares at a discount to market price (subject to a sales load).

Advent Convertible and Income Fund (NYSE: AVK) Announces Terms of Rights Offering and Declares October Distribution

Guggenheim Investments Announces September 2024 Closed-End Fund Distributions

NEW YORK, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

Guggenheim Investments Announces September 2024 Closed-End Fund Distributions

AVK: Trying To Take Advantage Of Market Developments, But Hard To Justify A Premium

Advent Convertible and Income Fund offers high income through convertible securities, providing inflation protection and equity exposure. The fund's recent performance has been solid, substantially outperforming the comparable indices over the past few months. The fund increased its equity exposure slightly during the first six months of its fiscal year, and this was not due to exercising convertible options.

AVK: Trying To Take Advantage Of Market Developments, But Hard To Justify A Premium

Guggenheim Investments Announces August 2024 Closed-End Fund Distributions

NEW YORK, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

Guggenheim Investments Announces August 2024 Closed-End Fund Distributions

Guggenheim Investments Announces July 2024 Closed-End Fund Distributions

NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

Guggenheim Investments Announces July 2024 Closed-End Fund Distributions

Guggenheim Investments Announces June 2024 Closed-End Fund Distributions

NEW YORK, June 03, 2024 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

Guggenheim Investments Announces June 2024 Closed-End Fund Distributions

AVK: The Destructive Distributions Are A Big Concern

The Advent Convertible & Income Fund offers a high distribution yield of 11.93%, making it attractive to income-seeking investors. The AVK closed-end fund has outperformed most broad-market indices and its peers in terms of yield and performance over the past few months. The fund's allocation to convertible securities has declined recently, indicating a preference for junk bonds and a potential reduction in volatility.

AVK: The Destructive Distributions Are A Big Concern

Guggenheim Investments Announces May 2024 Closed-End Fund Distributions

NEW YORK, May 01, 2024 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

Guggenheim Investments Announces May 2024 Closed-End Fund Distributions

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