Advent Convertible and Income Fund (AVK)

NEW YORK, Aug. 01, 2025 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

AVK offers a high 11.5% yield and monthly payouts, appealing to income-focused investors seeking portfolio stability and diversification. Despite strong income and recovery, I remain concerned about dividend sustainability and aggressive leverage, especially in a high-interest rate environment. AVK trades near the high end of its historical NAV discount range, making the current entry less attractive for new investors.

NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

Although double-digit yields were normal during the 1980s, lower interest rates and a robust stock market have rendered yields of 10% or higher obscure.

NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

Advent Convertible & Income Fund offers a high dividend yield of 13.1%, making it attractive for income investors despite recent price declines. AVK's strategy emphasizes current income over capital appreciation, with a diverse portfolio including convertible securities, high-yield securities, and equities. The fund's aggressive leverage and reliance on net realized gains pose risks, especially in a high-interest rate environment with potential defaults.

NEW YORK, March 03, 2025 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

NEW YORK, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

With additional capital raised in 2024, the Advent Convertible & Income Fund (AVK) balances convertible securities and high yield bonds as it aims to provide capital appreciation and income amid. Gain updates on the Fund's portfolio allocation, performance and potential opportunities from Portfolio Manager Tony Huang. Advent Capital Management is the Investment Adviser of AVK, a closed-end fund which aims to provide total return through a combination of capital appreciation and current income.

Advent Convertible & Income Fund offers income through preferred stocks, and high-yield securities, with potential upside over time from convertible issues. The fund has shown resilience in dividend payouts despite economic challenges but has struggled with declining share prices and limited upside from its convertible strategy. Despite its diversified portfolio, AVK's high leverage and unsecured debt increase risks, making it prudent to wait for a price below $9 to give a margin of safety.

NEW YORK, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Guggenheim Investments today announced that certain closed-end funds have declared their distributions. The table below summarizes the distribution schedule for each closed-end fund (collectively, the “Funds” and each, a “Fund”).

I can't tell you how many times I've mentioned closed-end funds (CEFs) to investors and been met with blank stares in return.

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NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Advent Convertible and Income Fund (NYSE: AVK) (the “Fund”) today announced the final results of its transferable rights offering (the “Offer”). The Offer expired on October 17, 2024 (the “Expiration Date”). The Rights no longer trade on the New York Stock Exchange (“NYSE”).

NEW YORK, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Advent Convertible and Income Fund (NYSE: AVK) (the “Fund”) today announced the completion and preliminary results of its transferable rights offering (the “Offer”) which commenced on September 20, 2024 and expired on October 17, 2024 (the “Expiration Date”). The Offer entitled Rights holders to subscribe for common shares of beneficial interest (“Common Shares”) of the Fund. Pursuant to the Offer, the Fund issued one transferable right (a "Right") for each Common Share held by shareholders of record as of September 20, 2024. Holders of Rights were entitled to purchase one new Common Share for every three rights held (1 for 3).