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

Advent Convertible and Income Fund (NYSE:AVK) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 40,390 shares, a decrease of 24.1% from the March 15th total of 53,184 shares. Based on an average daily trading volume, of 194,899 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Advent Convertible and Income Fund

A number of hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. increased its position in shares of Advent Convertible and Income Fund by 8.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,456,665 shares of the investment management company’s stock worth $18,631,000 after purchasing an additional 114,371 shares during the last quarter. Guggenheim Capital LLC lifted its position in Advent Convertible and Income Fund by 15.2% in the fourth quarter. Guggenheim Capital LLC now owns 785,038 shares of the investment management company’s stock valued at $9,844,000 after buying an additional 103,476 shares during the last quarter. &PARTNERS purchased a new position in Advent Convertible and Income Fund during the fourth quarter worth about $1,024,000. Advisors Asset Management Inc. boosted its stake in Advent Convertible and Income Fund by 6.7% during the fourth quarter. Advisors Asset Management Inc. now owns 788,747 shares of the investment management company’s stock worth $9,891,000 after buying an additional 49,595 shares during the period. Finally, Shaker Financial Services LLC acquired a new stake in shares of Advent Convertible and Income Fund during the third quarter valued at about $615,000.

Advent Convertible and Income Fund Stock Up 1.2%

AVK stock opened at $12.44 on Wednesday. The firm’s 50 day moving average price is $12.12 and its 200-day moving average price is $12.48. Advent Convertible and Income Fund has a one year low of $10.56 and a one year high of $13.10.

Advent Convertible and Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be given a $0.1172 dividend. The ex-dividend date is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 11.3%.

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.