Advent Convertible and Income Fund (NYSE:AVK) Short Interest Update

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 21,000 shares, a decrease of 84.2% from the December 31st total of 132,900 shares. Based on an average daily volume of 213,400 shares, the short-interest ratio is currently 0.1 days.

Advent Convertible and Income Fund Stock Down 0.7 %

NYSE:AVK traded down $0.08 during midday trading on Wednesday, hitting $12.10. The stock had a trading volume of 141,639 shares, compared to its average volume of 175,036. The stock has a 50-day moving average of $12.05 and a 200 day moving average of $12.04. Advent Convertible and Income Fund has a one year low of $11.06 and a one year high of $12.97.

Advent Convertible and Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.1172 per share. This represents a $1.41 dividend on an annualized basis and a yield of 11.62%. The ex-dividend date is Wednesday, January 15th.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Several institutional investors have recently bought and sold shares of the business. Calamos Advisors LLC bought a new stake in shares of Advent Convertible and Income Fund in the 4th quarter valued at about $386,000. Absolute Investment Advisers LLC purchased a new stake in shares of Advent Convertible and Income Fund during the 4th quarter valued at $9,384,000. Encompass More Asset Management boosted its position in shares of Advent Convertible and Income Fund by 23.1% in the 4th quarter. Encompass More Asset Management now owns 14,660 shares of the investment management company’s stock worth $173,000 after purchasing an additional 2,755 shares in the last quarter. Arete Wealth Advisors LLC grew its stake in Advent Convertible and Income Fund by 105.6% during the 3rd quarter. Arete Wealth Advisors LLC now owns 600,039 shares of the investment management company’s stock worth $7,044,000 after buying an additional 308,255 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in Advent Convertible and Income Fund during the 3rd quarter valued at about $373,000.

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.