Advent Convertible and Income Fund (NYSE:AVK) Announces $0.12 Monthly Dividend

Advent Convertible and Income Fund (NYSE:AVK) declared a monthly dividend on Tuesday, September 1st. Investors of record on Tuesday, September 15th will be paid a dividend of 0.1172 per share by the investment management company on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 11.3%. The ex-dividend date is Tuesday, September 15th.

Advent Convertible and Income Fund Stock Down 0.6%

NYSE:AVK opened at $12.46 on Wednesday. The business’s 50-day moving average price is $12.71 and its 200 day moving average price is $12.50. Advent Convertible and Income Fund has a 52-week low of $10.77 and a 52-week high of $13.28.

Institutional Investors Weigh In On Advent Convertible and Income Fund

Large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its holdings in shares of Advent Convertible and Income Fund by 301.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,975 shares of the investment management company’s stock worth $46,000 after acquiring an additional 2,984 shares during the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Advent Convertible and Income Fund during the first quarter valued at $53,000. Kestra Advisory Services LLC acquired a new position in shares of Advent Convertible and Income Fund in the 4th quarter valued at $119,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Advent Convertible and Income Fund in the 1st quarter worth about $114,000. Finally, IMC Chicago LLC purchased a new position in Advent Convertible and Income Fund in the 2nd quarter worth about $140,000.

Advent Convertible and Income Fund Company Profile

Advent Convertible and Income Fund (NYSE: AVK) is a diversified, closed-end management investment company that seeks to provide total return through current income and capital appreciation. The Fund is managed by Advent Capital Management, LLC, an SEC-registered investment adviser, and trades on the New York Stock Exchange under the ticker AVK. It offers investors a blend of equity and fixed-income exposures through a single vehicle designed to deliver regular distributions.

The Fund’s core strategy centers on convertible securities—such as convertible bonds and preferred stocks—issued by U.S.