Advent Convertible and Income Fund (NYSE:AVK) Shareholders to Get $0.12 Monthly Dividend

Advent Convertible and Income Fund (NYSE:AVK) announced a monthly dividend on Monday, November 2nd. Shareholders of record on Friday, November 13th will be paid a dividend of $0.1172 per share by the investment management company on Monday, November 30th. This represents a $1.41 dividend on an annualized basis and a yield of 13.1%. The ex-dividend date is Friday, November 13th.

Advent Convertible and Income Fund Trading Down 1.7%

Shares of AVK stock opened at $10.74 on Tuesday. Advent Convertible and Income Fund has a twelve month low of $10.71 and a twelve month high of $13.28. The stock has a fifty day simple moving average of $11.71 and a two-hundred day simple moving average of $12.32.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Calamos Advisors LLC raised its position in shares of Advent Convertible and Income Fund by 6.7% in the 3rd quarter. Calamos Advisors LLC now owns 40,736 shares of the investment management company’s stock worth $467,000 after acquiring an additional 2,547 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Advent Convertible and Income Fund by 6.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 35,442 shares of the investment management company’s stock valued at $406,000 after buying an additional 2,289 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Advent Convertible and Income Fund by 112.3% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 5,197 shares of the investment management company’s stock valued at $60,000 after buying an additional 2,749 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Advent Convertible and Income Fund by 374.4% in the third quarter. International Assets Investment Management LLC now owns 226,000 shares of the investment management company’s stock worth $2,590,000 after purchasing an additional 178,364 shares during the last quarter. Finally, Shaker Financial Services LLC grew its stake in shares of Advent Convertible and Income Fund by 48.5% during the third quarter. Shaker Financial Services LLC now owns 44,505 shares of the investment management company’s stock worth $510,000 after acquiring an additional 14,526 shares during the last quarter.

Advent Convertible and Income Fund Company Profile

Advent Convertible and Income Fund (NYSE: AVK) is a publicly traded closed-end investment company. The fund seeks to provide current income and, as a secondary objective, capital appreciation by investing primarily in a diversified portfolio of convertible securities and other income-producing investments.

Its portfolio may include convertible bonds, convertible preferred securities and non-convertible corporate debt. Convertible securities can provide income while offering the potential to participate in the appreciation of the underlying equity securities.