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AVK: Good Concept, But Risky
The Advent Convertible & Income Fund offers a high yield of 14.12% and invests heavily in convertible securities, providing potential for capital appreciation. The AVK closed-end fund's YTD performance has been disappointing compared to the S&P 500, but distributions have offset the share price decline. The AVK fund's leverage of 47.44% increases volatility and poses risks, and its distribution may not be sustainable, potentially leading to a cut.

AVK: Income Rising, But Leverage Remains Elevated
Advent Convertible & Income Fund has seen an increase in income generation but also elevated leverage, making it a riskier fund. The fund's distribution rate is high, hindering appreciation on the NAV level, which causes the leverage ratio to remain elevated, too. AVK's portfolio consists primarily of exposure to convertibles and high-yield securities, but it also has a relatively smaller weighting to the tech sector.

AVK: Getting Closer To A More Attractive Valuation
Advent Convertible & Income Fund's discount has widened, making it more appealing, but it remains above its longer-term average. The fund's distribution yield is high at 12.69%, but the NAV rate is also elevated, which could be hard to earn. The environment for convertibles is becoming more attractive, with higher rates leading to higher yields being required when issued.

CEF Insights: Convertible Securities Benefits And Opportunities In Today's Challenging Market
Convertible securities offer attractive yields with low duration while providing investors with the ability to participate in the potential for equity market returns. Advent Capital Management Partner and Senior Advisor, Barry Nelson, discusses opportunities in this sector.

AVK: Discount Loosening Up
We last looked at AVK around 8 months ago when a reader asked my thoughts. Since then, the fund's discount has opened up a bit further, but it still isn't appealing.

AVK: Highly Leveraged Convertibles CEF, 12% Yield
The Advent Claymore Convertible Securities & Income Fund - AVK - is a closed end fund focused on high yield and convertible securities. The high leverage the fund runs makes it volatile, with the 5-year standard deviation for AVK at 19.8.

AVK: An Interesting Fund, But Not Great Valuation
AVK is an interesting convertible fund that also includes positions in high-yield bonds and some equities. The fund's distribution yield is an enticing 10.18%, but that could come under pressure through this rough market.

CEF Insights: Convertibles - Upside Participation, Downside Protection
Cogent is a great business, and we think that it is a great model for Lumen.

Evaluating CEFs: AVK Is Not The Best Pick In A Very Hot Sector
have looked at other CEFs that invest in convertible securities; AVK's 7.5% yield looks attractive if it can be sustained. I continue my series on CEFs looking beyond the yield.

Convertibles CEF Sector Update
The convertibles sector had a tremendous 2020 on the back of a number of tailwinds such as outperformance in its sector tilts, high volatility, and falling rates. We take a look at the different options for investors in the sector across both open-end and closed-end funds.
AVK Financial details
AVK Financial Performance
Yearly Fundamentals Overview
Last date of statement is 2022-10-31
Metric | History | 2018-10-31 | 2019-10-31 | 2020-10-31 | 2021-10-31 | 2022-10-31 |
---|---|---|---|---|---|---|
2.02K | 2.02K | 2.02K | 2.02K | 2.02K | ||
Revenue per share | -0.39 | 1.66 | 1.26 | 5.61 | -4.85 | |
Net income per share | -0.47 | 1.55 | 1.13 | 5.49 | -4.95 | |
Operating cash flow per share | 0.91 | 1.43 | 3.25 | 1.41 | 2.02 | |
Free cash flow per share | 0.91 | 1.43 | 3.25 | 1.41 | 2.02 | |
Cash per share | 0 | 0.02 | 0.01 | 0.02 | 0 | |
Book value per share | 16.2 | 16.42 | 16.17 | 20.14 | 12.43 | |
Tangible book value per share | 16.2 | 16.42 | 16.17 | 20.14 | 12.43 | |
Share holders equity per share | 16.2 | 16.42 | 16.17 | 20.14 | 12.43 | |
Interest debt per share | 11.47 | 11.68 | 9.81 | 9.65 | 10.41 | |
Market cap | 480.94M | 508.25M | 466.82M | 663.62M | 404.19M | |
Enterprise value | 867.95M | 894.61M | 790.48M | 986.99M | 753.2M | |
P/E ratio | -29.67 | 9.54 | 12.05 | 3.5 | -2.37 | |
Price to sales ratio | -36.03 | 8.92 | 10.82 | 3.43 | -2.42 | |
POCF ratio | 15.27 | 10.33 | 4.2 | 13.59 | 5.8 | |
PFCF ratio | 15.27 | 10.33 | 4.2 | 13.59 | 5.8 | |
P/B Ratio | 0.86 | 0.9 | 0.84 | 0.95 | 0.94 | |
PTB ratio | 0.86 | 0.9 | 0.84 | 0.95 | 0.94 | |
EV to sales | -65.02 | 15.71 | 18.33 | 5.1 | -4.5 | |
Enterprise value over EBITDA | -117.49 | 16.8 | 20.41 | 5.21 | -4.7 | |
EV to operating cash flow | 27.56 | 18.18 | 7.11 | 20.21 | 10.81 | |
EV to free cash flow | 27.56 | 18.18 | 7.11 | 20.21 | 10.81 | |
Earnings yield | -0.03 | 0.1 | 0.08 | 0.29 | -0.42 | |
Free cash flow yield | 0.07 | 0.1 | 0.24 | 0.07 | 0.17 | |
Debt to equity | 0.69 | 0.69 | 0.58 | 0.47 | 0.81 | |
Debt to assets | 0.4 | 0.4 | 0.36 | 0.31 | 0.45 | |
Net debt to EBITDA | -52.39 | 7.25 | 8.36 | 1.71 | -2.18 | |
Current ratio | 1.31 | 1.16 | 0.56 | 1.72 | 3.62 | |
Interest coverage | -0.84 | 3.74 | 3.16 | 20.37 | -15.35 | |
Income quality | -1.94 | 0.92 | 2.87 | 0.26 | -0.41 | |
Dividend Yield | 0.07 | 0.1 | 0.1 | 0.07 | 0.24 | |
Payout ratio | -1.94 | 0.91 | 1.25 | 0.26 | -0.56 | |
Sales general and administrative to revenue | -0.1 | 0.03 | 0.04 | 0.01 | -0.01 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
Capex to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
Capex to revenue | 0 | 0 | 0 | 0 | 0 | |
Capex to depreciation | 0 | 0 | 0 | 0 | 0 | |
Stock based compensation to revenue | 0 | 0 | 0 | 0 | 0 | |
Graham number | 13.08 | 23.93 | 20.28 | 49.88 | 37.21 | |
ROIC | -0.01 | 0.06 | 0.04 | 0.19 | -0.21 | |
Return on tangible assets | -0.02 | 0.05 | 0.04 | 0.18 | -0.22 | |
Graham Net | -11.3 | -11.37 | -9.96 | -9.27 | -9.92 | |
Working capital | 6.59M | 2.65M | -12.31M | 15.53M | 11.3M | |
Tangible asset value | 559.44M | 564.15M | 554.32M | 695.32M | 429.12M | |
Net current asset value | -383.24M | -386.26M | -337.55M | -310.84M | -338.61M | |
Invested capital | 0.69 | 0.69 | 0.58 | 0.47 | 0.81 | |
Average receivables | 17.37M | 23.07M | 16.8M | 26.06M | 26.09M | |
Average payables | 12.01M | 18.78M | 22.15M | 24.96M | 13.01M | |
Average inventory | 0 | 0 | 0 | 0 | 0 | |
Days sales outstanding | -767.2 | 115.83 | 131.44 | 68.94 | -34.03 | |
Days payables outstanding | 0 | 0 | 0 | 0 | 0 | |
Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
Receivables turnover | -0.48 | 3.15 | 2.78 | 5.29 | -10.72 | |
Payables turnover | 0 | 0 | 0 | 0 | 0 | |
Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
ROE | -0.03 | 0.09 | 0.07 | 0.27 | -0.4 | |
Capex per share | 0 | 0 | 0 | 0 | 0 |
Quarterly Fundamentals Overview
Last date of statement is 2023-04-30 for Q2
Metric | History | 2021-04-30 | 2021-10-31 | 2022-04-30 | 2022-10-31 | 2023-04-30 |
---|---|---|---|---|---|---|
2.02K | 2.02K | 2.02K | 2.02K | 2.02K | ||
Revenue per share | 0 | 0 | 0 | 0 | 0 | |
Net income per share | 0 | 0 | 0 | 0 | 0 | |
Operating cash flow per share | 0 | 0 | 0 | 0 | 0 | |
Free cash flow per share | 0 | 0 | 0 | 0 | 0 | |
Cash per share | 0 | 0 | 0 | 0 | 0 | |
Book value per share | 0 | 0 | 0 | 0 | 0 | |
Tangible book value per share | 0 | 0 | 0 | 0 | 0 | |
Share holders equity per share | 0 | 0 | 0 | 0 | 0 | |
Interest debt per share | 0 | 0 | 0 | 0 | 0 | |
Market cap | 0 | 0 | 0 | 0 | 0 | |
Enterprise value | 323.8M | 323.37M | 349.02M | 349.01M | 349.06M | |
P/E ratio | 0 | 0 | 0 | 0 | 0 | |
Price to sales ratio | 0 | 0 | 0 | 0 | 0 | |
POCF ratio | 0 | 0 | 0 | 0 | 0 | |
PFCF ratio | 0 | 0 | 0 | 0 | 0 | |
P/B Ratio | 0 | 0 | 0 | 0 | 0 | |
PTB ratio | 0 | 0 | 0 | 0 | 0 | |
EV to sales | 0 | 0 | 0 | 0 | 0 | |
Enterprise value over EBITDA | 0 | 0 | 0 | 0 | 0 | |
EV to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
EV to free cash flow | 0 | 0 | 0 | 0 | 0 | |
Earnings yield | 0 | 0 | 0 | 0 | 0 | |
Free cash flow yield | 0 | 0 | 0 | 0 | 0 | |
Debt to equity | 0.46 | 0.47 | 0.68 | 0.81 | 0.82 | |
Debt to assets | 0.31 | 0.31 | 0.39 | 0.45 | 0.44 | |
Net debt to EBITDA | 0 | 0 | 0 | 0 | 0 | |
Current ratio | 1.21 | 1.72 | 0.99 | 3.62 | 1.69 | |
Interest coverage | 0 | 0 | 0 | 0 | 0 | |
Income quality | 0 | 0 | 0 | 0 | 0 | |
Dividend Yield | 0 | 0 | 0 | 0 | 0 | |
Payout ratio | 0 | 0 | 0 | 0 | 0 | |
Sales general and administrative to revenue | 0 | 0 | 0 | 0 | 0 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
Capex to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
Capex to revenue | 0 | 0 | 0 | 0 | 0 | |
Capex to depreciation | 0 | 0 | 0 | 0 | 0 | |
Stock based compensation to revenue | 0 | 0 | 0 | 0 | 0 | |
Graham number | 0 | 0 | 0 | 0 | 0 | |
ROIC | 0 | 0 | 0 | 0 | 0 | |
Return on tangible assets | 0 | 0 | 0 | 0 | 0 | |
Graham Net | 0 | 0 | 0 | 0 | 0 | |
Working capital | 1.44M | 15.53M | -111.81K | 11.3M | 6.68M | |
Tangible asset value | 705.38M | 695.32M | 513.96M | 429.12M | 426.71M | |
Net current asset value | -324.09M | -310.84M | -350.31M | -338.61M | -344.87M | |
Invested capital | 0.46 | 0.47 | 0.68 | 0.81 | 0.82 | |
Average receivables | 11.83M | 22.36M | 28.58M | 18.09M | 15.97M | |
Average payables | 17.55M | 14.31M | 21.2M | 12.5M | 6.98M | |
Average inventory | 0 | 0 | 0 | 0 | 0 | |
Days sales outstanding | 0 | 0 | 0 | 0 | 0 | |
Days payables outstanding | 0 | 0 | 0 | 0 | 0 | |
Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
Receivables turnover | 0 | 0 | 0 | 0 | 0 | |
Payables turnover | 0 | 0 | 0 | 0 | 0 | |
Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
ROE | 0 | 0 | 0 | 0 | 0 | |
Capex per share | 0 | 0 | 0 | 0 | 0 |
AVK Frequently Asked Questions
What is Advent Convertible and Income Fund stock symbol ?
Advent Convertible and Income Fund is a US stock , located in New york of Ny and trading under the symbol AVK
What is Advent Convertible and Income Fund stock quote today ?
Advent Convertible and Income Fund stock price is $10.6188 today.
Is Advent Convertible and Income Fund stock public?
Yes, Advent Convertible and Income Fund is a publicly traded company.