Director Daniel Black purchased 1,000 shares of AVK at $11.28; 6 other insiders bought within 14 days
Director Black purchased 1,000 shares of Advent Convertible & Income Fund (AVK) at $11.28 on 2024-10-17, increasing his holdings from 21.0K shares to 22.0K shares (+4.8% net change). This purchase occurs within a cluster pattern: 6 other insiders also bought within the past 14 days, suggesting coordinated accumulation during a period of price pressure. The stock is trading at $11.42 (current), down -11.1% from its 52-week high of $12.85 and down -5.3% over the prior 30 days, indicating Black's purchase occurred after recent weakness. The clustering of director purchases during a drawdown in a closed-end fund warrant examination of whether insiders view the current discount as compelling relative to the fund's distribution characteristics and NAV.