Advent Convertible and Income Fund (NYSE:AVK) Short Interest Up 97.6% in March

Advent Convertible and Income Fund (NYSE:AVK) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 53,184 shares, a growth of 97.6% from the February 26th total of 26,910 shares. Based on an average daily volume of 147,335 shares, the days-to-cover ratio is currently 0.4 days.

Advent Convertible and Income Fund Stock Down 1.7%

Advent Convertible and Income Fund stock traded down $0.19 during trading hours on Thursday, hitting $11.32. The stock had a trading volume of 160,818 shares, compared to its average volume of 172,761. The stock’s 50-day moving average price is $12.40 and its 200-day moving average price is $12.57. Advent Convertible and Income Fund has a 12-month low of $9.75 and a 12-month high of $13.10.

Advent Convertible and Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.1172 dividend. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Friday, March 13th.

Institutional Trading of Advent Convertible and Income Fund

Institutional investors have recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA purchased a new position in shares of Advent Convertible and Income Fund in the fourth quarter worth $34,000. Geneos Wealth Management Inc. boosted its position in shares of Advent Convertible and Income Fund by 301.1% during the first quarter. Geneos Wealth Management Inc. now owns 3,975 shares of the investment management company’s stock valued at $46,000 after buying an additional 2,984 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Advent Convertible and Income Fund in the 3rd quarter worth about $60,000. Kestra Advisory Services LLC bought a new stake in Advent Convertible and Income Fund in the 4th quarter worth about $119,000. Finally, Ballew Advisors Inc purchased a new position in Advent Convertible and Income Fund in the 4th quarter worth about $129,000.

About Advent Convertible and Income Fund

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.