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

Advent Convertible and Income Fund (NYSE:AVK) saw a large decrease in short interest in January. As of January 30th, there was short interest totaling 53,114 shares, a decrease of 84.1% from the January 15th total of 333,939 shares. Based on an average daily trading volume, of 211,162 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 211,162 shares, the days-to-cover ratio is presently 0.3 days.

Advent Convertible and Income Fund Price Performance

AVK traded up $0.08 during midday trading on Tuesday, hitting $12.77. 188,639 shares of the company’s stock traded hands, compared to its average volume of 195,242. Advent Convertible and Income Fund has a one year low of $9.75 and a one year high of $13.10. The stock’s fifty day simple moving average is $12.65 and its 200-day simple moving average is $12.60.

Advent Convertible and Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.1172 dividend. This represents a c) annualized dividend and a dividend yield of 11.0%. The ex-dividend date of this dividend is Friday, February 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cyndeo Wealth Partners LLC increased its position in Advent Convertible and Income Fund by 8.8% during the third quarter. Cyndeo Wealth Partners LLC now owns 117,865 shares of the investment management company’s stock worth $1,507,000 after buying an additional 9,543 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Advent Convertible and Income Fund in the 2nd quarter valued at $296,000. Tactive Advisors LLC bought a new position in Advent Convertible and Income Fund during the second quarter worth about $184,000. Guggenheim Capital LLC increased its holdings in shares of Advent Convertible and Income Fund by 4.8% during the second quarter. Guggenheim Capital LLC now owns 689,582 shares of the investment management company’s stock worth $8,351,000 after purchasing an additional 31,892 shares during the period. Finally, WCG Wealth Advisors LLC increased its stake in Advent Convertible and Income Fund by 91.4% during the 2nd quarter. WCG Wealth Advisors LLC now owns 36,752 shares of the investment management company’s stock worth $445,000 after acquiring an additional 17,554 shares during the period.

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.