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

Advent Convertible and Income Fund > Has the bleeding stopped?

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Comment by PenniStockeron Oct 26, 2016 4:44pm

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Post# 25389699

RE:RE:Has the bleeding stopped?

I agree that 33 (Canaccord) has been a consistent seller, but more importantly 15 (UBS) has basically bought all that stock today and has been accumulating for a while now …
- UBS has bought over 1.7mm shares since the start of September
- UBS has bought 3.5mm shares since January 1 (at an average of 28 cents) and only sold 50,000 in that period.

Someone is clearly accumulating a big position, which is now over 1% of the company and about 10% of the free float once you back out Elliott (60%) and CEO (11%)!

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