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

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 163,500 shares, a drop of 10.2% from the November 15th total of 182,100 shares. Based on an average daily volume of 251,100 shares, the short-interest ratio is currently 0.7 days.

Advent Convertible and Income Fund Price Performance

NYSE AVK traded down $0.09 during trading hours on Tuesday, hitting $12.14. 153,717 shares of the company were exchanged, compared to its average volume of 151,337. The company has a 50 day moving average of $11.75 and a two-hundred day moving average of $12.04. Advent Convertible and Income Fund has a 52-week low of $11.01 and a 52-week high of $12.97.

Advent Convertible and Income Fund Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.1172 per share. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Advent Convertible and Income Fund’s previous dividend of $0.09.

Insider Buying and Selling

In other Advent Convertible and Income Fund news, CEO Tracy V. Maitland purchased 13,179 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was acquired at an average price of $11.28 per share, for a total transaction of $148,659.12. Following the completion of the purchase, the chief executive officer now directly owns 45,449 shares in the company, valued at approximately $512,664.72. The trade was a 40.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Tony Huang acquired 2,300 shares of Advent Convertible and Income Fund stock in a transaction dated Thursday, October 17th. The stock was bought at an average price of $11.28 per share, for a total transaction of $25,944.00. Following the completion of the purchase, the vice president now owns 9,400 shares of the company’s stock, valued at approximately $106,032. This represents a 32.39 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 19,264 shares of company stock valued at $217,298.

Institutional Trading of Advent Convertible and Income Fund

Hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new stake in shares of Advent Convertible and Income Fund in the 3rd quarter valued at approximately $11,695,000. Arete Wealth Advisors LLC increased its holdings in Advent Convertible and Income Fund by 105.6% in the third quarter. Arete Wealth Advisors LLC now owns 600,039 shares of the investment management company’s stock valued at $7,044,000 after buying an additional 308,255 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Advent Convertible and Income Fund by 28.5% in the third quarter. Advisors Asset Management Inc. now owns 492,836 shares of the investment management company’s stock valued at $5,786,000 after buying an additional 109,395 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Advent Convertible and Income Fund during the 2nd quarter worth about $581,000. Finally, Shaker Financial Services LLC acquired a new position in shares of Advent Convertible and Income Fund during the 3rd quarter worth about $488,000.

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.