Sit Investment Associates Reduces Stake in Advent Convertible & Income Fund Below 5% Threshold

Sit Investment Associates, Inc. (SIA) and its subsidiary, Sit Fixed Income Advisors II, LLC (SFI), filed a Schedule 13G/A on April 6, 2026, reporting a reduction in their position in Advent Convertible & Income Fund (AVK). As of the event date on March 31, 2026, the reporting persons collectively held 2,133,776 shares of common stock, representing a 4.8% ownership stake. This is a decrease from the previously reported 2,437,672 shares. Because the ownership level has fallen below the 5% threshold, the filers indicated that they have ceased to be the beneficial owners of more than five percent of the class of securities. The shares are held in various client accounts managed by SIA and SFI, and both entities disclaim beneficial ownership of these securities. The filing was made under Rule 13d-1(b), indicating the shares were acquired in the ordinary course of business without the intent to influence or change the control of the issuer.