Advent Convertible and Income Fund
AVK
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- Advent Convertible and Income Fund (NYSE: AVK) is a diversified closed-end management investment company that seeks total return through a combination of capital appreciation and current income. The Fund pursues its investment objective by investing at least 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income-producing securities, including at least 30% in convertible securities and up to 70% in lower-grade, non-convertible income securities such as high-yield bonds, preferred stocks, and dividend-paying common stocks; it may also employ leverage, derivatives, and invest without limitation in foreign securities across diversified sectors in U.S. and global fixed income markets. Founded on April 29, 2003, and headquartered in New York, New York, the Fund is managed by Advent Capital Management, LLC, with services provided through Guggenheim Funds Distributors, Inc., and operates primarily in the United States while targeting institutional and individual investors seeking income-oriented exposure to convertible and high-yield markets. In recent developments, Guggenheim Investments has continued monthly distribution announcements through December 2025, alongside regular 19(a)-1 notices detailing distribution sources; the Fund issued its April 2025 semi-annual report and 2025 proxy voting records in mid-2025, while recent analyst coverage in December 2025 upgraded AVK to a "Buy" rating, citing its credit-driven stability, 11.1% yield, and hybrid strategy amid low-growth conditions, with no major acquisitions, partnerships, or strategic shifts reported in the last 1-2 years.