Advent Convertible and Income Fund (NYSE:AVK) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Advent Convertible and Income Fund (NYSE:AVK)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.62 and traded as low as $12.55. Advent Convertible and Income Fund shares last traded at $12.5750, with a volume of 139,845 shares traded.

Advent Convertible and Income Fund Price Performance

The business has a 50-day simple moving average of $12.65 and a two-hundred day simple moving average of $12.62.

Advent Convertible and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.1172 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 11.2%.

Institutional Trading of Advent Convertible and Income Fund

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

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.