Short Interest in Advent Convertible and Income Fund (NYSE:AVK) Rises By 20.5%

Advent Convertible and Income Fund (NYSE:AVK) was the target of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 26,910 shares, an increase of 20.5% from the February 12th total of 22,325 shares. Based on an average trading volume of 134,718 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 134,718 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AVK. Advisors Asset Management Inc. raised its holdings in shares of Advent Convertible and Income Fund by 21.9% in the second quarter. Advisors Asset Management Inc. now owns 805,578 shares of the investment management company’s stock worth $9,756,000 after buying an additional 144,955 shares during the period. Raymond James Financial Inc. lifted its stake 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 acquiring an additional 114,371 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in Advent Convertible and Income Fund by 15.2% during the 4th quarter. Guggenheim Capital LLC now owns 785,038 shares of the investment management company’s stock valued at $9,844,000 after acquiring an additional 103,476 shares during the period. &PARTNERS purchased a new position in Advent Convertible and Income Fund during the 4th quarter valued at $1,024,000. Finally, Shaker Financial Services LLC bought a new position in Advent Convertible and Income Fund in the 3rd quarter valued at $615,000.

Advent Convertible and Income Fund Price Performance

Shares of Advent Convertible and Income Fund stock traded up $0.07 during trading on Monday, hitting $11.91. The stock had a trading volume of 120,608 shares, compared to its average volume of 174,324. Advent Convertible and Income Fund has a 12 month low of $9.75 and a 12 month high of $13.10. The firm’s fifty day simple moving average is $12.59 and its 200-day simple moving average is $12.62.

Advent Convertible and Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a $0.1172 dividend. This represents a c) dividend on an annualized basis and a yield of 11.8%. The ex-dividend date of this dividend is Friday, March 13th.

About Advent Convertible and Income Fund

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.