Advent Convertible and Income Fund (NYSE:AVK) Shares Cross Below 200 Day Moving Average – Time to Sell?

Advent Convertible and Income Fund (NYSE:AVK)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $12.42 and traded as low as $10.86. Advent Convertible and Income Fund shares last traded at $10.98, with a volume of 139,407 shares trading hands.

Advent Convertible and Income Fund Trading Down 2.1%

The business has a fifty day moving average price of $11.91 and a two-hundred day moving average price of $12.40.

Advent Convertible and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.1172 per share. This represents a $1.41 annualized dividend and a yield of 13.0%. The ex-dividend date of this dividend is Thursday, October 15th.

Institutional Investors Weigh In On Advent Convertible and Income Fund

A number of institutional investors have recently made changes to their positions in AVK. Shaker Financial Services LLC raised its holdings in shares of Advent Convertible and Income Fund by 48.5% in the 3rd quarter. Shaker Financial Services LLC now owns 44,505 shares of the investment management company’s stock valued at $510,000 after buying an additional 14,526 shares during the period. Tactive Advisors LLC boosted its holdings in Advent Convertible and Income Fund by 13.9% during the 3rd quarter. Tactive Advisors LLC now owns 16,135 shares of the investment management company’s stock valued at $185,000 after acquiring an additional 1,963 shares during the period. NewEdge Advisors LLC boosted its holdings in 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 valued at $1,264,000 after acquiring an additional 29,770 shares during the period. Ameritas Advisory Services LLC grew its position in Advent Convertible and Income Fund by 18.2% in 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 in the last quarter. Finally, Benjamin Edwards Inc. grew its position in Advent Convertible and Income Fund by 7.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 20,255 shares of the investment management company’s stock valued at $265,000 after acquiring an additional 1,385 shares in the last quarter.

Advent Convertible and Income Fund Company Profile

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 a combination of current income and capital appreciation by investing primarily in convertible securities and other income-producing investments.

The fund’s portfolio may include convertible bonds, convertible preferred stocks, corporate bonds and other debt instruments. Convertible securities can provide income while also offering the potential to participate in the equity performance of the issuing company.