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

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 21,000 shares, a drop of 84.2% from the December 31st total of 132,900 shares. Based on an average daily volume of 213,400 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Advent Convertible and Income Fund

Several large investors have recently made changes to their positions in the company. Penserra Capital Management LLC bought a new position in Advent Convertible and Income Fund in the 3rd quarter worth approximately $11,695,000. Absolute Investment Advisers LLC bought a new stake in shares of Advent Convertible and Income Fund during the fourth quarter worth $9,384,000. Arete Wealth Advisors LLC lifted its stake in shares of Advent Convertible and Income Fund by 105.6% during 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 acquiring an additional 308,255 shares during the period. Advisors Asset Management Inc. boosted its holdings 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 acquiring an additional 109,395 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Advent Convertible and Income Fund in the second quarter worth about $581,000.

Advent Convertible and Income Fund Price Performance

Shares of Advent Convertible and Income Fund stock traded up $0.01 during midday trading on Tuesday, hitting $12.18. 173,654 shares of the company were exchanged, compared to its average volume of 177,003. The firm has a 50 day simple moving average of $12.04 and a 200-day simple moving average of $12.04. Advent Convertible and Income Fund has a 52 week low of $11.06 and a 52 week high of $12.97.

Advent Convertible and Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $0.1172 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.41 annualized dividend and a dividend yield of 11.55%.

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.