Advent Convertible and Income Fund (NYSE:AVK) Stock Short Interest Report for September

Advent Convertible and Income Fund (NYSE:AVK) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 33,358 shares, a drop of 41.2% from the September 15th total of 56,722 shares. Based on an average daily trading volume, of 175,667 shares, the days-to-cover ratio is currently 0.2 days.

Advent Convertible and Income Fund Trading Down 2.6%

Shares of Advent Convertible and Income Fund stock opened at $11.28 on Thursday. The firm has a 50-day simple moving average of $12.18 and a two-hundred day simple moving average of $12.43. Advent Convertible and Income Fund has a fifty-two week low of $10.77 and a fifty-two week high of $13.28.

Advent Convertible and Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.1172 per share. The ex-dividend date is Thursday, October 15th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 12.5%.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Several institutional investors and hedge funds have recently modified their holdings of AVK. MeadowBrook Investment Advisors LLC purchased a new position in shares of Advent Convertible and Income Fund during the 1st quarter valued at approximately $53,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Advent Convertible and Income Fund in the 1st quarter valued at $114,000. Calamos Advisors LLC purchased a new stake in Advent Convertible and Income Fund in the 1st quarter worth $139,000. IMC Chicago LLC purchased a new stake in Advent Convertible and Income Fund in the 2nd quarter worth $140,000. Finally, High Net Worth Advisory Group LLC purchased a new stake in Advent Convertible and Income Fund in the 1st quarter worth $154,000.

About Advent Convertible and Income Fund

Advent Convertible and Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol AVK. The fund seeks to provide a combination of current income and capital appreciation by investing primarily in convertible securities and other income-producing investments.

The fund’s portfolio may include convertible bonds, convertible preferred stocks, corporate bonds and other debt instruments. Convertible securities can provide income while also offering the potential to participate in the equity performance of the issuing company.