Advent Convertible and Income Fund (NYSE:AVK – Get Free Report) announced a monthly dividend on Thursday, October 1st. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.1172 per share by the investment management company on Friday, October 30th. This represents a $1.41 dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Thursday, October 15th.
Advent Convertible and Income Fund Price Performance
AVK stock opened at $11.34 on Friday. The stock has a 50-day moving average price of $12.33 and a 200-day moving average price of $12.43. Advent Convertible and Income Fund has a 1-year low of $10.77 and a 1-year high of $13.28.
Hedge Funds Weigh In On Advent Convertible and Income Fund
Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC grew its position in shares of Advent Convertible and Income Fund by 44.6% during the 2nd quarter. NewEdge Advisors LLC now owns 96,524 shares of the investment management company’s stock worth $1,264,000 after buying an additional 29,770 shares during the period. Ameritas Advisory Services LLC lifted its position in shares of Advent Convertible and Income Fund by 18.2% during the 2nd quarter. Ameritas Advisory Services LLC now owns 39,309 shares of the investment management company’s stock valued at $515,000 after acquiring an additional 6,063 shares during the period. Benjamin Edwards Inc. boosted its stake in Advent Convertible and Income Fund by 7.3% during the second quarter. Benjamin Edwards Inc. now owns 20,255 shares of the investment management company’s stock worth $265,000 after acquiring an additional 1,385 shares in the last quarter. IMC Chicago LLC bought a new position in Advent Convertible and Income Fund during the second quarter worth $140,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in Advent Convertible and Income Fund in the second quarter worth $204,000.
About Advent Convertible and Income Fund
Advent Convertible and Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol AVK. The fund seeks to provide current income and capital appreciation by investing primarily in a diversified portfolio of convertible securities and income-producing fixed-income investments.
The fund is managed by Advent Capital Management, LLC, an investment adviser specializing in convertible securities and related credit markets. Its portfolio may include convertible bonds, preferred securities and other corporate debt instruments, with investments selected based on factors such as income potential, credit quality and the opportunity for equity participation through conversion features.
Advent Convertible and Income Fund invests across corporate issuers and industries, with its geographic exposure determined by the securities held in the portfolio.
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