Advent Convertible and Income Fund (NYSE:AVK) Short Interest Down 58.0% in February

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a significant decline in short interest in February. As of February 13th, there was short interest totaling 22,325 shares, a decline of 58.0% from the January 29th total of 53,114 shares. Based on an average daily volume of 178,977 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 178,977 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of Advent Convertible and Income Fund

Institutional investors have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC grew its position in shares of Advent Convertible and Income Fund by 15.2% in the fourth quarter. Guggenheim Capital LLC now owns 785,038 shares of the investment management company’s stock valued at $9,844,000 after purchasing an additional 103,476 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Advent Convertible and Income Fund by 77.5% in the fourth quarter. Cetera Investment Advisers now owns 40,701 shares of the investment management company’s stock valued at $510,000 after acquiring an additional 17,770 shares during the last quarter. &PARTNERS purchased a new stake in Advent Convertible and Income Fund during the fourth quarter valued at about $1,024,000. Arete Wealth Advisors LLC increased its stake in Advent Convertible and Income Fund by 3.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 308,048 shares of the investment management company’s stock worth $3,863,000 after acquiring an additional 11,517 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Advent Convertible and Income Fund in the 4th quarter worth about $119,000.

Advent Convertible and Income Fund Stock Performance

Shares of AVK stock traded down $0.05 during mid-day trading on Friday, hitting $12.53. 102,371 shares of the stock were exchanged, compared to its average volume of 182,167. Advent Convertible and Income Fund has a 12-month low of $9.75 and a 12-month high of $13.10. The stock’s fifty day simple moving average is $12.67 and its two-hundred day simple moving average is $12.63.

Advent Convertible and Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.1172 per share. The ex-dividend date is Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 11.2%.

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.