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

Advent Convertible and Income Fund (NYSE:AVK) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 333,939 shares, a growth of 236.9% from the December 31st total of 99,120 shares. Based on an average daily volume of 201,074 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily volume of 201,074 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AVK. Stolper Co increased its holdings in shares of Advent Convertible and Income Fund by 1.4% during the fourth quarter. Stolper Co now owns 61,919 shares of the investment management company’s stock worth $776,000 after purchasing an additional 833 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of Advent Convertible and Income Fund by 3.1% in the second quarter. Concurrent Investment Advisors LLC now owns 29,124 shares of the investment management company’s stock valued at $353,000 after buying an additional 886 shares during the period. Geneos Wealth Management Inc. grew its position in Advent Convertible and Income Fund by 301.1% during the first quarter. Geneos Wealth Management Inc. now owns 3,975 shares of the investment management company’s stock worth $46,000 after buying an additional 2,984 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Advent Convertible and Income Fund by 4.7% during the 3rd quarter. Bank of America Corp DE now owns 69,815 shares of the investment management company’s stock valued at $893,000 after acquiring an additional 3,111 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Advent Convertible and Income Fund by 6.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 50,049 shares of the investment management company’s stock valued at $612,000 after purchasing an additional 3,166 shares in the last quarter.

Advent Convertible and Income Fund Price Performance

Shares of AVK traded up $0.05 during trading hours on Wednesday, hitting $12.85. The company had a trading volume of 103,085 shares, compared to its average volume of 210,971. The business has a fifty day moving average of $12.60 and a 200-day moving average of $12.57. Advent Convertible and Income Fund has a 12 month low of $9.75 and a 12 month high of $13.10.

Advent Convertible and Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be issued a dividend of $0.1172 per share. This represents a c) annualized dividend and a yield of 10.9%. The ex-dividend date of this dividend is Thursday, January 15th.

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.