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

Advent Convertible and Income Fund (NYSE:AVK)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.52 and traded as low as $11.23. Advent Convertible and Income Fund shares last traded at $11.52, with a volume of 211,462 shares trading hands.

Advent Convertible and Income Fund Price Performance

The company’s 50 day moving average is $12.25 and its 200 day moving average is $12.52.

Advent Convertible and Income Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were paid a $0.1172 dividend. This represents a c) annualized dividend and a dividend yield of 12.2%. The ex-dividend date was Friday, March 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Guggenheim Capital LLC lifted its position in Advent Convertible and Income Fund by 15.2% during the fourth quarter. Guggenheim Capital LLC now owns 785,038 shares of the investment management company’s stock worth $9,844,000 after purchasing an additional 103,476 shares during the period. Cetera Investment Advisers raised its position in shares of Advent Convertible and Income Fund by 77.5% in the 4th quarter. Cetera Investment Advisers now owns 40,701 shares of the investment management company’s stock valued at $510,000 after buying an additional 17,770 shares in the last quarter. &PARTNERS bought a new stake in shares of Advent Convertible and Income Fund during the 4th quarter worth approximately $1,024,000. Arete Wealth Advisors LLC lifted its holdings in shares of Advent Convertible and Income Fund by 3.9% during the 4th quarter. Arete Wealth Advisors LLC now owns 308,048 shares of the investment management company’s stock worth $3,863,000 after acquiring an additional 11,517 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Advent Convertible and Income Fund during the 4th quarter worth approximately $119,000.

About Advent Convertible and Income Fund

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.