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

Advent Convertible and Income Fund (NYSE:AVK) saw a significant drop in short interest in April. As of April 30th, there was short interest totaling 23,898 shares, a drop of 60.2% from the April 15th total of 60,028 shares. Based on an average trading volume of 129,361 shares, the days-to-cover ratio is currently 0.2 days.

Advent Convertible and Income Fund Stock Down 0.2%

Shares of Advent Convertible and Income Fund stock traded down $0.02 during trading hours on Thursday, hitting $12.85. 86,233 shares of the company’s stock traded hands, compared to its average volume of 167,141. The stock has a 50 day simple moving average of $12.11 and a 200-day simple moving average of $12.45. Advent Convertible and Income Fund has a twelve month low of $10.77 and a twelve month high of $13.10.

Advent Convertible and Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.1172 per share. The ex-dividend date is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 10.9%.

Institutional Trading of Advent Convertible and Income Fund

Several large investors have recently modified their holdings of AVK. Raymond James Financial Inc. grew its stake in shares of Advent Convertible and Income Fund by 8.5% during the third quarter. Raymond James Financial Inc. now owns 1,456,665 shares of the investment management company’s stock valued at $18,631,000 after acquiring an additional 114,371 shares in the last quarter. Guggenheim Capital LLC grew its position in shares of Advent Convertible and Income Fund by 15.2% during the fourth quarter. Guggenheim Capital LLC now owns 785,038 shares of the investment management company’s stock worth $9,844,000 after buying an additional 103,476 shares in the last quarter. &PARTNERS acquired a new stake in shares of Advent Convertible and Income Fund during the fourth quarter worth approximately $1,024,000. Advisors Asset Management Inc. grew its position in shares of Advent Convertible and Income Fund by 6.7% during the fourth quarter. Advisors Asset Management Inc. now owns 788,747 shares of the investment management company’s stock worth $9,891,000 after buying an additional 49,595 shares in the last quarter. Finally, Greenberg Financial Group acquired a new stake in shares of Advent Convertible and Income Fund during the fourth quarter worth approximately $596,000.

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.