Advent Convertible and Income Fund (NYSE:AVK) Short Interest Up 20.5% in February

Advent Convertible and Income Fund (NYSE:AVK) saw a large growth in short interest in February. As of February 27th, there was short interest totaling 26,910 shares, a growth of 20.5% from the February 12th total of 22,325 shares. Based on an average daily trading volume, of 134,718 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 134,718 shares, the days-to-cover ratio is currently 0.2 days.

Advent Convertible and Income Fund Stock Performance

Shares of AVK stock opened at $11.98 on Wednesday. The company’s 50-day simple moving average is $12.57 and its two-hundred day simple moving average is $12.62. Advent Convertible and Income Fund has a one year low of $9.75 and a one year high of $13.10.

Advent Convertible and Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.1172 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) annualized dividend and a yield of 11.7%.

Institutional Investors Weigh In On Advent Convertible and Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the company. LFA Lugano Financial Advisors SA bought a new position in shares of Advent Convertible and Income Fund during the 4th quarter worth $34,000. Geneos Wealth Management Inc. raised its holdings in shares of Advent Convertible and Income Fund by 301.1% in the first quarter. Geneos Wealth Management Inc. now owns 3,975 shares of the investment management company’s stock valued at $46,000 after acquiring an additional 2,984 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Advent Convertible and Income Fund in the third quarter worth about $60,000. Kestra Advisory Services LLC purchased a new stake in Advent Convertible and Income Fund in the fourth quarter worth about $119,000. Finally, Ballew Advisors Inc bought a new position in Advent Convertible and Income Fund during the 4th quarter worth about $129,000.

Advent Convertible and Income Fund Company Profile

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.