Short Interest in Advent Convertible and Income Fund (NYSE:AVK) Drops By 34.3%

Advent Convertible and Income Fund (NYSE:AVK) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 109,319 shares, a drop of 34.3% from the November 30th total of 166,288 shares. Based on an average daily volume of 132,116 shares, the short-interest ratio is presently 0.8 days. Based on an average daily volume of 132,116 shares, the short-interest ratio is presently 0.8 days.

Advent Convertible and Income Fund Stock Up 0.4%

Shares of AVK traded up $0.05 during mid-day trading on Monday, reaching $12.65. The company had a trading volume of 91,614 shares, compared to its average volume of 151,173. Advent Convertible and Income Fund has a 52-week low of $9.75 and a 52-week high of $13.10. The stock has a 50 day moving average of $12.60 and a two-hundred day moving average of $12.46.

Advent Convertible and Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.1172 dividend. This represents a c) annualized dividend and a yield of 11.1%. The ex-dividend date is Monday, December 15th.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Institutional investors have recently made changes to their positions in the company. PMG Family Office LLC acquired a new position in shares of Advent Convertible and Income Fund in the 3rd quarter valued at $390,000. NewEdge Advisors LLC increased its holdings in Advent Convertible and Income Fund by 18.3% in the third quarter. NewEdge Advisors LLC now owns 70,662 shares of the investment management company’s stock valued at $904,000 after buying an additional 10,954 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Advent Convertible and Income Fund by 10.7% in the third quarter. Integrated Wealth Concepts LLC now owns 34,337 shares of the investment management company’s stock worth $439,000 after acquiring an additional 3,316 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of Advent Convertible and Income Fund in the third quarter worth about $156,000. Finally, Bank of America Corp DE raised its position in shares of Advent Convertible and Income Fund by 4.7% in the third quarter. Bank of America Corp DE now owns 69,815 shares of the investment management company’s stock worth $893,000 after acquiring an additional 3,111 shares during the period.

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.