ADVENT CONVERTIB.+INCO.FD

NEW YORK, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Advent Convertible and Income Fund (NYSE: AVK) (the “Fund”) announced updated record and ex-dividend dates for its October Distribution. » Mehr auf globenewswire.com

NEW YORK, Sept. 10, 2024 (GLOBE NEWSWIRE) -- The board of trustees (the “Board”) of Advent Convertible and Income Fund (NYSE: AVK) (the “Fund”) has approved the terms of the issuance of transferable rights (“Rights”) to the holders of the Fund's common shares (the “Common Shareholders”) of beneficial interest, par value $0.001 per share (“Common Shares”), as of the record date, entitling the holders of those Rights to subscribe for Common Shares (the “Offer”). The Board, based on the recommendations and presentations of the Fund's investment adviser, Advent Capital Management, LLC (“Advent” or the “Adviser”), and others, has determined that it is in the best interests of the Fund and the Common Shareholders to conduct the Offer and thereby to increase the assets of the Fund available for investment. In making this determination, the Board considered a number of factors, including potential benefits and costs. In particular, the Board considered the Adviser's belief that the Offer would enable the Fund to take advantage of existing and future investment opportunities for convertible securities and non-convertible income producing securities that may be or may become available, consistent with the Fund's investment objective of providing total return through a combination of capital appreciation and current income. The Offer also seeks to provide an opportunity to existing Common Shareholders to purchase Common Shares at a discount to market price (subject to a sales load). » Mehr auf globenewswire.com

Advent Convertible and Income Fund offers high income through convertible securities, providing inflation protection and equity exposure. The fund's recent performance has been solid, substantially outperforming the comparable indices over the past few months. The fund increased its equity exposure slightly during the first six months of its fiscal year, and this was not due to exercising convertible options. » Mehr auf seekingalpha.com