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Advent Convertible and Income Fund T.AVK


Primary Symbol: AVK

Advent Convertible and Income Fund (the Fund) is a diversified closed-end management investment company. The Fund’s investment objective is to provide total return through a combination of capital appreciation and current income. The Fund will invest at least 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income securities. The Fund will invest at least 30% of its managed assets in convertible securities and up to 70% of its managed assets in non-convertible income securities. The Fund may invest without limitation in securities of foreign issuers. Fund invests in various sectors, such as technology, financial, communications, energy, basic materials and other. The investment advisor of the Fund is Advent Capital Management, LLC.


NYSE:AVK - Post by User

Comment by EdgarLon Jul 10, 2016 4:24pm
118 Views
Post# 25039435

RE:RE:RE:RE:RE:Any opinion!

RE:RE:RE:RE:RE:Any opinion!I agree marketsense.  So far, I've made almost 400% on my money be being a stubborn value investor.  Maybe it depends how many of these situations one has been through.  I've been through quite a few of these where you keep second guessing - Is there something I'm missing?  Does everyone else know something bad about this company that I don't?  But it's not that at all - it's just the number of buyers vs number of sellers.  One can look back to the Integra Gold bullboard about a year and a half ago and see that I was encouraging buying as much as possible in the 15-16 cent range.  It was an amazing deal as Avnel is now.  There was a reason why the price of ICG was very low - there were certain parties (one fund especially) that needed to sell so there were more sellers than buyers.  It's simple math.  It's the same situation with Avnel.  More sellers than buyers but once the seller(s) is done, then the buying will bring price up - way up I believe.  I obviously don't know the math exactly but if we estimate that the party has 1 million shares still to sell, and if that party manages to sell 50,000 a day, then in 20 days, the buying will overwhelm the selling.  (My guess is that it isn't that far off though because I think the volume will increase as more attention goes to the sector.)  To reap the rewards, you have to be stubborn enough to see it through and not sell at 35 or 40 cents which would be a silly thing to do - a rookie mistake in my opinion.       
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