Advent Convertible and Income Fund (NYSE:AVK) Shares Pass Below 200-Day Moving Average – Should You Sell?

Advent Convertible and Income Fund (NYSE:AVK) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.49 and traded as low as $12.13. Advent Convertible and Income Fund shares last traded at $12.15, with a volume of 75,601 shares.

Advent Convertible and Income Fund Stock Down 0.3%

The firm has a 50 day moving average of $12.14 and a 200 day moving average of $12.49.

Advent Convertible and Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be paid a $0.1172 dividend. The ex-dividend date is Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 11.6%.

Institutional Investors Weigh In On Advent Convertible and Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. raised its holdings in Advent Convertible and Income Fund by 8.5% during the 3rd 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 period. Guggenheim Capital LLC increased its stake in Advent Convertible and Income Fund by 15.2% in the fourth quarter. Guggenheim Capital LLC now owns 785,038 shares of the investment management company’s stock valued at $9,844,000 after acquiring an additional 103,476 shares during the last quarter. &PARTNERS bought a new position in Advent Convertible and Income Fund during the fourth quarter valued at approximately $1,024,000. Advisors Asset Management Inc. increased its holdings in shares of Advent Convertible and Income Fund by 6.7% in the fourth quarter. Advisors Asset Management Inc. now owns 788,747 shares of the investment management company’s stock worth $9,891,000 after buying an additional 49,595 shares during the period. Finally, Shaker Financial Services LLC bought a new position in shares of Advent Convertible and Income Fund in the third quarter worth approximately $615,000.

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.