Advent Convertible and Income Fund (NYSE:AVK – Get Free Report) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 83,200 shares, a drop of 12.2% from the June 15th total of 94,800 shares. Based on an average daily trading volume, of 92,600 shares, the days-to-cover ratio is currently 0.9 days.
Hedge Funds Weigh In On Advent Convertible and Income Fund
Large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its holdings in shares of Advent Convertible and Income Fund by 967.4% in the fourth quarter. International Assets Investment Management LLC now owns 365,992 shares of the investment management company’s stock valued at $4,165,000 after acquiring an additional 331,704 shares in the last quarter. Wolverine Asset Management LLC grew its stake in Advent Convertible and Income Fund by 579.6% in the 4th quarter. Wolverine Asset Management LLC now owns 253,604 shares of the investment management company’s stock valued at $2,886,000 after purchasing an additional 216,285 shares during the period. Koshinski Asset Management Inc. increased its position in shares of Advent Convertible and Income Fund by 62.4% during the 4th quarter. Koshinski Asset Management Inc. now owns 457,085 shares of the investment management company’s stock valued at $5,202,000 after purchasing an additional 175,684 shares during the last quarter. Raymond James & Associates raised its stake in shares of Advent Convertible and Income Fund by 16.4% during the 4th quarter. Raymond James & Associates now owns 438,201 shares of the investment management company’s stock worth $4,987,000 after purchasing an additional 61,854 shares during the period. Finally, Advisor Resource Council purchased a new position in shares of Advent Convertible and Income Fund in the 4th quarter worth about $627,000.
Advent Convertible and Income Fund Stock Performance
AVK traded up $0.26 during midday trading on Monday, reaching $12.40. 307,649 shares of the company were exchanged, compared to its average volume of 105,392. Advent Convertible and Income Fund has a one year low of $9.24 and a one year high of $12.42. The company’s fifty day moving average price is $11.95 and its 200 day moving average price is $11.78.
Advent Convertible and Income Fund Increases Dividend
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.
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