Short Interest in Advent Convertible and Income Fund (NYSE:AVK) Declines By 58.0%

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a large decline in short interest in February. As of February 13th, there was short interest totaling 22,325 shares, a decline of 58.0% from the January 29th total of 53,114 shares. Based on an average daily trading volume, of 178,977 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 178,977 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Advent Convertible and Income Fund

A number of hedge funds have recently made changes to their positions in AVK. Advisors Asset Management Inc. boosted its position in shares of Advent Convertible and Income Fund by 21.9% during the second quarter. Advisors Asset Management Inc. now owns 805,578 shares of the investment management company’s stock valued at $9,756,000 after buying an additional 144,955 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Advent Convertible and Income Fund by 8.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,456,665 shares of the investment management company’s stock valued at $18,631,000 after acquiring an additional 114,371 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Advent Convertible and Income Fund by 15.2% in the fourth quarter. Guggenheim Capital LLC now owns 785,038 shares of the investment management company’s stock worth $9,844,000 after acquiring an additional 103,476 shares during the period. &PARTNERS purchased a new position in shares of Advent Convertible and Income Fund during the fourth quarter valued at approximately $1,024,000. Finally, Shaker Financial Services LLC purchased a new position in shares of Advent Convertible and Income Fund during the third quarter valued at approximately $615,000.

Advent Convertible and Income Fund Stock Down 0.3%

Shares of Advent Convertible and Income Fund stock traded down $0.04 during trading on Friday, hitting $12.53. The company’s stock had a trading volume of 112,124 shares, compared to its average volume of 182,637. Advent Convertible and Income Fund has a 52 week low of $9.75 and a 52 week high of $13.10. The company has a fifty day simple moving average of $12.67 and a two-hundred day simple moving average of $12.63.

Advent Convertible and Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a dividend of $0.1172 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 11.2%.

About Advent Convertible and Income Fund

Advent Convertible and Income Fund (NYSE: AVK) is a diversified, closed-end management investment company that seeks to provide total return through current income and capital appreciation. The Fund is managed by Advent Capital Management, LLC, an SEC-registered investment adviser, and trades on the New York Stock Exchange under the ticker AVK. It offers investors a blend of equity and fixed-income exposures through a single vehicle designed to deliver regular distributions.

The Fund’s core strategy centers on convertible securities—such as convertible bonds and preferred stocks—issued by U.S.