Advent Convertible and Income Fund (NYSE:AVK) Short Interest Update

Advent Convertible and Income Fund (NYSE:AVK) was the target of a large decline in short interest in January. As of January 15th, there was short interest totalling 21,000 shares, a decline of 84.2% from the December 31st total of 132,900 shares. Based on an average trading volume of 213,400 shares, the short-interest ratio is currently 0.1 days.

Advent Convertible and Income Fund Stock Up 0.0 %

Shares of Advent Convertible and Income Fund stock traded up $0.01 during midday trading on Tuesday, reaching $12.18. 173,654 shares of the company’s stock traded hands, compared to its average volume of 177,003. Advent Convertible and Income Fund has a 52 week low of $11.06 and a 52 week high of $12.97. The company’s 50 day simple moving average is $12.04 and its 200 day simple moving average is $12.04.

Advent Convertible and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.1172 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.41 dividend on an annualized basis and a yield of 11.55%.

Institutional Trading of Advent Convertible and Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC bought a new position in Advent Convertible and Income Fund in the 3rd quarter worth approximately $11,695,000. Absolute Investment Advisers LLC bought a new position in Advent Convertible and Income Fund during the fourth quarter worth $9,384,000. Arete Wealth Advisors LLC raised its stake in Advent Convertible and Income Fund by 105.6% during the 3rd quarter. Arete Wealth Advisors LLC now owns 600,039 shares of the investment management company’s stock valued at $7,044,000 after purchasing an additional 308,255 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Advent Convertible and Income Fund by 28.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 492,836 shares of the investment management company’s stock valued at $5,786,000 after purchasing an additional 109,395 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in Advent Convertible and Income Fund in the 2nd quarter worth $581,000.

About Advent Convertible and Income Fund

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.