Advent Convertible and Income Fund (NYSE:AVK) Short Interest Down 58.7% in May

Advent Convertible and Income Fund (NYSE:AVK) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totaling 9,862 shares, a decline of 58.7% from the April 30th total of 23,898 shares. Based on an average trading volume of 130,340 shares, the days-to-cover ratio is presently 0.1 days.

Advent Convertible and Income Fund Price Performance

Shares of NYSE:AVK traded up $0.01 on Friday, hitting $13.07. 206,020 shares of the company traded hands, compared to its average volume of 168,595. The stock has a 50 day simple moving average of $12.24 and a 200-day simple moving average of $12.43. Advent Convertible and Income Fund has a 52 week low of $10.77 and a 52 week high of $13.14.

Advent Convertible and Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.1172 per share. This represents a c) annualized dividend and a yield of 10.8%. The ex-dividend date of this dividend was Friday, May 15th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. LFA Lugano Financial Advisors SA purchased a new stake in shares of Advent Convertible and Income Fund during the fourth quarter valued at approximately $34,000. Geneos Wealth Management Inc. boosted its stake in Advent Convertible and Income Fund by 301.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,975 shares of the investment management company’s stock valued at $46,000 after purchasing an additional 2,984 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Advent Convertible and Income Fund during the 3rd quarter valued at $60,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of Advent Convertible and Income Fund in the 1st quarter worth $53,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Advent Convertible and Income Fund in the 4th quarter worth $119,000.

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.