Advent Convertible and Income Fund (NYSE:AVK) Shares Shorted: Short Interest Up 153.6% in October

Advent Convertible and Income Fund (NYSE:AVK) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 84,601 shares, an increase of 153.6% from the September 30th total of 33,358 shares. Based on an average daily trading volume, of 209,170 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Advent Convertible and Income Fund

A number of large investors have recently made changes to their positions in the business. Blue Bell Private Wealth Management LLC boosted its holdings in Advent Convertible and Income Fund by 112.3% in the third quarter. Blue Bell Private Wealth Management LLC now owns 5,197 shares of the investment management company’s stock worth $60,000 after acquiring an additional 2,749 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Advent Convertible and Income Fund during the first quarter valued at about $114,000. IMC Chicago LLC acquired a new position in shares of Advent Convertible and Income Fund during the second quarter valued at about $140,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Advent Convertible and Income Fund during the second quarter valued at about $160,000. Finally, Calamos Advisors LLC purchased a new position in shares of Advent Convertible and Income Fund in the 1st quarter valued at approximately $139,000.

Advent Convertible and Income Fund Stock Performance

NYSE:AVK opened at $11.20 on Friday. The company’s 50-day simple moving average is $11.78 and its 200-day simple moving average is $12.34. Advent Convertible and Income Fund has a fifty-two week low of $10.73 and a fifty-two week high of $13.28.

Advent Convertible and Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be issued a $0.1172 dividend. This represents a $1.41 annualized dividend and a yield of 12.6%. The ex-dividend date of this dividend is Thursday, October 15th.

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.