Advent Convertible and Income Fund (NYSE:AVK) Shares Cross Above Fifty Day Moving Average – What’s Next?

Advent Convertible and Income Fund (NYSE:AVK)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $12.65 and traded as high as $12.78. Advent Convertible and Income Fund shares last traded at $12.7650, with a volume of 188,639 shares.

Advent Convertible and Income Fund Price Performance

The business’s 50-day simple moving average is $12.65 and its two-hundred day simple moving average is $12.60.

Advent Convertible and Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.1172 dividend. The ex-dividend date is Friday, February 13th. This represents a c) annualized dividend and a dividend yield of 11.0%.

Hedge Funds Weigh In On Advent Convertible and Income Fund

A number of large investors have recently bought and sold shares of AVK. Advisors Asset Management Inc. raised its stake in Advent Convertible and Income Fund by 21.9% during the second quarter. Advisors Asset Management Inc. now owns 805,578 shares of the investment management company’s stock worth $9,756,000 after buying an additional 144,955 shares during the last quarter. Raymond James Financial Inc. boosted its position in Advent Convertible and Income Fund by 8.5% during the third quarter. Raymond James Financial Inc. now owns 1,456,665 shares of the investment management company’s stock valued at $18,631,000 after acquiring an additional 114,371 shares during the last quarter. Shaker Financial Services LLC bought a new position in shares of Advent Convertible and Income Fund in the 3rd quarter worth about $615,000. Greenberg Financial Group acquired a new position in shares of Advent Convertible and Income Fund in the 4th quarter valued at about $596,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Advent Convertible and Income Fund by 52.7% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 133,661 shares of the investment management company’s stock valued at $1,619,000 after purchasing an additional 46,135 shares in the last quarter.

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.