On October 17, 2024, Randall Barnes, Director at Advent Convertible & Income Fund (AVK, Financial), purchased 3,785 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 15,140 shares of Advent Convertible & Income Fund.
Advent Convertible & Income Fund (AVK, Financial) focuses on achieving total return through a combination of capital appreciation and current income. The fund primarily invests in convertible securities and non-convertible income-producing securities.
The shares were bought at a price of $11.28 each, valuing the transaction at approximately $42,709.60. This acquisition has increased the insider's stake in the company significantly.
The market cap of Advent Convertible & Income Fund stands at $401.324 million. The stock's price-earnings ratio is 10.80, which is below the industry median of 11.82, indicating a potentially undervalued status in comparison to its peers.
Over the past year, insider activity at Advent Convertible & Income Fund has shown more purchases than sales, with 6 insider buys and only 1 insider sell. This could suggest a positive outlook on the stock by those closest to the company.
For more detailed valuation metrics such as price-sales ratio, price-book ratio, and price-to-free cash flow, investors might consider visiting the respective links.
This recent purchase by Director Randall Barnes could be a signal to investors about the potential undervaluation or future prospects of Advent Convertible & Income Fund.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
