Advent Convertible and Income Fund

AVK

Market cap $562M

Advent Convertible & Income Fund is upgraded to Buy, offering an 11.1% yield and trading at a 4.61% discount to NAV. AVK's hybrid strategy, with 48.7% in convertibles and 41% in high-yield securities, targets high income and capital preservation. Leverage remains high at 37.7%, but declining interest rates should reduce risk and improve operating spreads for AVK.

NEW YORK, Dec. 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”).

NEW YORK, Nov. 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”).

Convertible securities are hybrid bonds and stocks that have a prearranged conversion factor into common stock, but pay an interest coupon to the holder until conversion is exercised.

NEW YORK, Oct. 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 and Income Fund offers exposure to convertibles and high-yield bonds, which have seen a strong recovery since our prior update. AVK maintains a high distribution yield of 11.13%, but coverage relies heavily on capital gains, making long-term sustainability challenging if markets falter. Leverage remains significant at 37.58% but the leverage ratio has actually declined with strong gains and a rights offering driving managed assets growth.

NEW YORK, Sept. 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, 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”).