Advent Convertible and Income Fund

Advent Convertible & Income Fund operates as a closed-end investment fund. It focuses on convertible securities and non-convertible income securities. The company was founded on February 19, 2003 and is headquartered in New York, NY.

Advent Convertible & Income Fund operates as a closed-end investment fund, which focuses on convertible securities and non-convertible income securities. The company was founded on February 19, 2003 and is headquartered in New York, NY.

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NEW YORK, Dec. 01, 2023 (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”).

Guggenheim Investments Announces December 2023 Closed-End Fund Distributions

The Advent Convertible & Income Fund offers a high yield of 14.12% and invests heavily in convertible securities, providing potential for capital appreciation. The AVK closed-end fund's YTD performance has been disappointing compared to the S&P 500, but distributions have offset the share price decline. The AVK fund's leverage of 47.44% increases volatility and poses risks, and its distribution may not be sustainable, potentially leading to a cut.

AVK: Good Concept, But Risky

NEW YORK, Nov. 01, 2023 (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”).

Guggenheim Investments Announces November 2023 Closed-End Fund Distributions

NEW YORK, Oct. 02, 2023 (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”).

Guggenheim Investments Announces October 2023 Closed-End Fund Distributions

NEW YORK, Sept. 01, 2023 (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”).

Guggenheim Investments Announces September 2023 Closed-End Fund Distributions

Advent Convertible & Income Fund has seen an increase in income generation but also elevated leverage, making it a riskier fund. The fund's distribution rate is high, hindering appreciation on the NAV level, which causes the leverage ratio to remain elevated, too. AVK's portfolio consists primarily of exposure to convertibles and high-yield securities, but it also has a relatively smaller weighting to the tech sector.

AVK: Income Rising, But Leverage Remains Elevated

NEW YORK, Aug. 01, 2023 (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”).

Guggenheim Investments Announces August 2023 Closed-End Fund Distributions

NEW YORK, July 03, 2023 (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”).

Guggenheim Investments Announces July 2023 Closed-End Fund Distributions

NEW YORK, June 01, 2023 (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”).

Guggenheim Investments Announces June 2023 Closed-End Fund Distributions

Advent Convertible & Income Fund's discount has widened, making it more appealing, but it remains above its longer-term average. The fund's distribution yield is high at 12.69%, but the NAV rate is also elevated, which could be hard to earn. The environment for convertibles is becoming more attractive, with higher rates leading to higher yields being required when issued.

AVK: Getting Closer To A More Attractive Valuation

Convertible securities offer attractive yields with low duration while providing investors with the ability to participate in the potential for equity market returns. Advent Capital Management Partner and Senior Advisor, Barry Nelson, discusses opportunities in this sector.

CEF Insights: Convertible Securities Benefits And Opportunities In Today's Challenging Market

We last looked at AVK around 8 months ago when a reader asked my thoughts. Since then, the fund's discount has opened up a bit further, but it still isn't appealing.

AVK: Discount Loosening Up

NEW YORK, Dec. 01, 2022 (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”).

Guggenheim Investments Announces December 2022 Closed-End Fund Distributions

NEW YORK, Nov. 01, 2022 (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”).

Guggenheim Investments Announces November 2022 Closed-End Fund Distributions

The Advent Claymore Convertible Securities & Income Fund - AVK - is a closed end fund focused on high yield and convertible securities. The high leverage the fund runs makes it volatile, with the 5-year standard deviation for AVK at 19.8.

AVK: Highly Leveraged Convertibles CEF, 12% Yield

NEW YORK, Sept. 01, 2022 (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”).

Guggenheim Investments Announces September 2022 Closed-End Fund Distributions

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AVK is an interesting convertible fund that also includes positions in high-yield bonds and some equities. The fund's distribution yield is an enticing 10.18%, but that could come under pressure through this rough market.

AVK: An Interesting Fund, But Not Great Valuation

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CEF Insights: Convertibles - Upside Participation, Downside Protection

have looked at other CEFs that invest in convertible securities; AVK's 7.5% yield looks attractive if it can be sustained. I continue my series on CEFs looking beyond the yield.

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The convertibles sector had a tremendous 2020 on the back of a number of tailwinds such as outperformance in its sector tilts, high volatility, and falling rates. We take a look at the different options for investors in the sector across both open-end and closed-end funds.

News for Advent Convertible and Income Fund ETF (AVK)