Advent Convertible and Income Fund (NYSE:AVK) Stock Breaks Below 200 Day Moving Average – Here’s What Happened

Advent Convertible and Income Fund (NYSE:AVK)’s stock price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $12.42 and traded as low as $11.60. Advent Convertible and Income Fund shares last traded at $11.6450, with a volume of 158,510 shares traded.

Advent Convertible and Income Fund Trading Up 1.1%

The business has a 50-day moving average price of $12.25 and a two-hundred day moving average price of $12.42.

Advent Convertible and Income Fund Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 12.1%. The ex-dividend date is Thursday, October 15th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Koshinski Asset Management Inc. grew its holdings in shares of Advent Convertible and Income Fund by 1.6% during the first quarter. Koshinski Asset Management Inc. now owns 472,817 shares of the investment management company’s stock valued at $5,277,000 after buying an additional 7,659 shares during the last quarter. Arete Wealth Advisors LLC lifted its position in Advent Convertible and Income Fund by 3.1% in the 1st quarter. Arete Wealth Advisors LLC now owns 317,688 shares of the investment management company’s stock valued at $3,552,000 after acquiring an additional 9,640 shares in the last quarter. FCA Corp TX lifted its position in Advent Convertible and Income Fund by 3.4% in the 1st quarter. FCA Corp TX now owns 239,080 shares of the investment management company’s stock valued at $2,668,000 after acquiring an additional 7,855 shares in the last quarter. NewEdge Advisors LLC lifted its position in Advent Convertible and Income Fund by 44.6% in 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 in the last quarter. Finally, Readystate Asset Management LP acquired a new position in Advent Convertible and Income Fund during the 1st quarter valued at about $1,187,000.

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 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.