Advent Convertible & Income Fund:AVK

    Manage Alerts

    Overview

    As of 12/7/2021

     Share
    Price
    NAVPremium/
    Discount
    Current$17.87$19.37-7.74%
    52 Wk Avg$18.27$20.00-8.69%
    52 Wk High$19.91$20.78-1.79%
    52 Wk Low$15.94$18.52-16.05%
    Regular Distribution TypeIncome Only
    Distribution Rate7.87%
    Distribution Amount$0.1172
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Funds investment objective is to provide total return, through a combination of capital appreciation and current income. There can be no assurance that the Fund will achieve its investment objective. Under normal market conditions, the Fund will invest at least 80% of its Managed Assets (as defined herein) in a diversified portfolio of convertible securities and non-convertible income securities. Under normal market conditions, the Fund will invest at least 60% of its Managed Assets in convertible securities and up to 40% of its Managed Assets in lower grade, non-convertible income securities, although the portion of the Funds assets invested in convertible securities and non-convertible income securities will vary from time to time consistent with the Funds investment objective, changes in equity prices and changes in interest rates and other economic and market factors. Because the convertible securities in which the Fund will invest also may be lower grade securities, under normal market conditions the Advisor anticipates that approximately 70% of the Funds Managed Assets will be invested in lower grade securities, although all of the Funds assets may from time to time be invested in lower grade securities.

    Capital Structure

    As of 12/7/2021

    Total Investment Exposure:$992.764M
    Total Common Assets:$668.754M
    Common Shares Outstanding:34,525,222
    Leverage

    As of 12/7/2021

    Preferred Share Assets:
    Total Debt (USD): $324.010M
    Regulatory Leverage (USD): $168.000M
    Effective Leverage (USD): $324.010M
    Effective Leverage (%): 32.64%
    Annual Expense Ratios

    As of 10/31/2021

      Per Common Share
    Management Fees0.89%
    Other Expenses:0.66%
    Baseline Expense: N/A
    Interest Expense:2.44%
    Total: 3.98%
    Fund Management

    Fund Sponsor
    Guggenheim Investments Asset Management

    Portfolio Managers
    Doug Melancon, Tracy V. Maitland

    Basics
    Category: Fixed Income - Taxable-Convertibles
    Ticker: AVK
    NAV Ticker: XAVKX
    Average Daily Volume (shares): 108,766
    Average Daily Volume (USD): $1.969M
    Inception Date: 4/30/2003
    Inception Share Price: $25.00
    Inception NAV: $23.83
    Tender Offer: No
    Term: No
    Fiscal Year End: October 31
    Third Party Links & Reports

    Distributions

    As of 12/7/2021

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 4/30/2021
    $0.1438
    Annualized Distribution Rate on NAV:
    As of 12/7/2021
    7.26%
    Total Return on NAV (12 months):
    As of 12/7/2021
    12.98%
    Avg. Portfolio Coupon:
    As of 12/7/2021
    3.17%
    Total % Portfolio Effectively Leveraged:
    As of 12/7/2021
    32.64%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 12/8/2021

    PeriodAvg Discount
    6 Month-5.33%
    1 Year-8.69%
    3 Year-10.57%
    5 Year-10.21%
    Z-Score

    As of 12/7/2021

    PeriodZStat
    3 Month-1.35
    6 Month-1.68
    1 Year0.23
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 11/30/2021
    Category: Morningstar US CEF Convertibles

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD16.30%5.78%11.29%4.69%
    202017.74%22.95%25.59%32.33%
    201936.53%25.74%33.46%25.30%
    2018-13.36%-8.16%-10.90%-6.14%
    201717.30%12.73%18.81%12.46%
    201617.98%10.45%17.56%11.29%
    2015-11.11%-5.25%-13.28%-6.40%
    2014-6.13%-5.10%4.99%1.66%
    201322.65%22.38%20.17%19.89%
    201217.45%14.00%13.75%15.53%
    2011-11.76%-8.45%-8.82%-5.62%
    201027.18%18.80%21.58%16.88%
    200955.84%62.33%69.46%60.23%
    2008-47.04%-49.66%  
    2007-10.44%5.54%  
    200639.12%15.38%  
    2005-5.01%4.15%  
    200410.09%9.66%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 11/30/2021
    Category: Morningstar US CEF Convertibles

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 12/7/2021
    3.17%
    Number of Holdings:
    As of 7/31/2021
    374
    Annual Portfolio Turnover:
    As of 10/31/2021
    242.00%
    Average Bond Price:
    As of 7/31/2021
    $113.18
    Asset Allocation

    As of 7/31/2021 reported by Fund Sponsor

    Top Sectors

    As of 7/31/2021 reported by Fund Sponsor

    Sector%Portfolio
    Corporate (Super Sector)82.36%
    Convertible40.86%
    Corporate Bond33.05%
    Preferred Stock8.23%
    Cyclical (Super Sector)5.21%
    Cash Equivalents (Super Sector)4.89%
    Cash Equivalents4.89%
    Sensitive (Super Sector)4.33%
    Defensive (Super Sector)3.21%
    Consumer Cyclical2.65%
    Top Holdings

    As of 7/31/2021 reported by Fund Sponsor

    HoldingValue% Portfolio
    Palo Alto Networks Inc 0.375%$12.88M1.25%
    Broadcom Inc Broadcom Inc 8 % Mandatory Convertible Preferred Stock Ser A$10.17M0.99%
    Southwest Airlines Co. 1.25%$10.03M0.98%
    APTIV PLC$10.00M0.97%
    KKR & Co Inc PRF CONVERT 15/09/2023 USD 50 - Ser C$9.77M0.95%
    2020 Cash Mandatory Exchangeable Trust$9.22M0.90%
    Ford Motor Company 0.11538%$9.07M0.88%
    Fluor Corp 6.50% PRF PERPETUAL USD 1000 - Ser A 144A$8.69M0.85%
    Exact Sciences Corporation 0.375%$8.52M0.83%
    Snap Inc 0.75%$8.15M0.79%
    Credit Quality

    As of 7/31/2021 reported by Fund Sponsor

    Maturity Breakdown

    As of 7/31/2021 reported by Fund Sponsor

    Country Allocation

    As of 7/31/2021 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income25.95%
    United States - Equity12.56%
    Canada - Fixed Income0.98%
    Others - Fixed Income0.33%
    China - Equity0.20%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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