Advent Convertible and Income Fund (NYSE:AVK) Short Interest Up 104.8% in August

Advent Convertible and Income Fund (NYSE:AVK) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 191,700 shares, agrowthof104.8% from the July 31st total of 93,600 shares. Based on an average daily volume of 146,100 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily volume of 146,100 shares, the days-to-cover ratio is currently 1.3 days.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC lifted its position in Advent Convertible and Income Fund by 40.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 16,988 shares of the investment management company’s stock worth $196,000 after acquiring an additional 4,910 shares in the last quarter. Trust Investment Advisors purchased a new position in shares of Advent Convertible and Income Fund during the 1st quarter valued at approximately $139,000. Concurrent Investment Advisors LLC boosted its stake in shares of Advent Convertible and Income Fund by 7.2% during the 1st quarter. Concurrent Investment Advisors LLC now owns 28,238 shares of the investment management company’s stock valued at $326,000 after buying an additional 1,901 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Advent Convertible and Income Fund by 10.0% during the 1st quarter. Penserra Capital Management LLC now owns 1,175,128 shares of the investment management company’s stock valued at $13,549,000 after buying an additional 106,926 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Advent Convertible and Income Fund by 12.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 12,034 shares of the investment management company’s stock valued at $139,000 after buying an additional 1,337 shares during the last quarter.

Advent Convertible and Income Fund Trading Up 0.0%

Shares of NYSE:AVK opened at $12.48 on Friday. Advent Convertible and Income Fund has a 1 year low of $9.75 and a 1 year high of $12.76. The stock has a 50-day simple moving average of $12.30 and a 200-day simple moving average of $11.75.

Advent Convertible and Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.1172 per share. The ex-dividend date is Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 11.3%.

Advent Convertible and Income Fund Company Profile

Advent Claymore Convertible Securities and Income Fund is a closed-ended fixed income mutual fund launched and managed by Advent Capital Management, LLC. The fund primarily invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across the diversified sectors.