Advent Convertible and Income Fund (NYSE:AVK) Short Interest Up 15.8% in January

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 83,000 shares, an increase of 15.8% from the January 15th total of 71,700 shares. Based on an average daily volume of 198,400 shares, the short-interest ratio is presently 0.4 days.

Advent Convertible and Income Fund Stock Down 0.4 %

AVK stock traded down $0.06 on Monday, hitting $12.29. 146,514 shares of the company’s stock were exchanged, compared to its average volume of 163,390. The firm has a 50 day moving average price of $12.07 and a two-hundred day moving average price of $12.01. Advent Convertible and Income Fund has a 12-month low of $11.06 and a 12-month high of $12.97.

Advent Convertible and Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.1172 dividend. This represents a $1.41 annualized dividend and a yield of 11.45%. The ex-dividend date of this dividend is Friday, February 14th.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Several hedge funds have recently modified their holdings of the stock. Concurrent Investment Advisors LLC increased its holdings in shares of Advent Convertible and Income Fund by 6.0% in the fourth quarter. Concurrent Investment Advisors LLC now owns 26,337 shares of the investment management company’s stock valued at $310,000 after purchasing an additional 1,487 shares during the period. Encompass More Asset Management boosted its position in Advent Convertible and Income Fund by 23.1% in the fourth quarter. Encompass More Asset Management now owns 14,660 shares of the investment management company’s stock valued at $173,000 after buying an additional 2,755 shares during the last quarter. Jaffetilchin Investment Partners LLC increased its holdings in Advent Convertible and Income Fund by 21.3% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 16,342 shares of the investment management company’s stock worth $192,000 after buying an additional 2,867 shares during the period. Stifel Financial Corp raised its position in Advent Convertible and Income Fund by 14.9% during the 4th quarter. Stifel Financial Corp now owns 26,223 shares of the investment management company’s stock worth $309,000 after buying an additional 3,397 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Advent Convertible and Income Fund by 2.2% during the 4th quarter. Baird Financial Group Inc. now owns 295,570 shares of the investment management company’s stock valued at $3,479,000 after acquiring an additional 6,261 shares during the period.

Advent Convertible and Income Fund Company Profile

Advent Claymore Convertible Securities and Income Fund is a closed-ended fixed income mutual fund launched and managed by Advent Capital Management, LLC. The fund primarily invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across the diversified sectors.