Advent Convertible and Income Fund (NYSE:AVK) Sees Significant Decline in Short Interest

Advent Convertible and Income Fund (NYSE:AVK) saw a significant decline in short interest in December. As of December 15th, there was short interest totaling 109,319 shares, a decline of 34.3% from the November 30th total of 166,288 shares. Based on an average daily volume of 132,116 shares, the short-interest ratio is presently 0.8 days. Based on an average daily volume of 132,116 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Hedge funds have recently modified their holdings of the company. Baird Financial Group Inc. raised its position in shares of Advent Convertible and Income Fund by 3.1% during the 1st quarter. Baird Financial Group Inc. now owns 304,857 shares of the investment management company’s stock valued at $3,515,000 after purchasing an additional 9,287 shares during the period. Calton & Associates Inc. purchased a new stake in Advent Convertible and Income Fund in the 1st quarter worth $136,000. Advisors Asset Management Inc. increased its stake in Advent Convertible and Income Fund by 9.6% in the 1st quarter. Advisors Asset Management Inc. now owns 660,623 shares of the investment management company’s stock worth $7,617,000 after buying an additional 58,075 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Advent Convertible and Income Fund during the first quarter valued at about $231,000. Finally, Arete Wealth Advisors LLC lifted its position in shares of Advent Convertible and Income Fund by 0.3% in the first quarter. Arete Wealth Advisors LLC now owns 323,401 shares of the investment management company’s stock valued at $3,729,000 after acquiring an additional 855 shares in the last quarter.

Advent Convertible and Income Fund Stock Performance

AVK traded down $0.06 during midday trading on Tuesday, reaching $12.61. The company had a trading volume of 226,078 shares, compared to its average volume of 151,473. The business has a 50-day moving average of $12.60 and a two-hundred day moving average of $12.47. Advent Convertible and Income Fund has a 1 year low of $9.75 and a 1 year high of $13.10.

Advent Convertible and Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $0.1172 per share. The ex-dividend date is Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 11.2%.

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.