Short Interest in Advent Convertible and Income Fund (NYSE:AVK) Drops By 34.3%

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totaling 109,319 shares, a decline of 34.3% from the November 30th total of 166,288 shares. Based on an average daily volume of 132,116 shares, the short-interest ratio is presently 0.8 days. Based on an average daily volume of 132,116 shares, the short-interest ratio is presently 0.8 days.

Advent Convertible and Income Fund Stock Performance

NYSE AVK traded up $0.05 during trading hours on Monday, reaching $12.65. The company’s stock had a trading volume of 91,614 shares, compared to its average volume of 151,173. The company’s 50-day moving average is $12.60 and its two-hundred day moving average is $12.46. Advent Convertible and Income Fund has a 1-year low of $9.75 and a 1-year high of $13.10.

Advent Convertible and Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a dividend of $0.1172 per share. This represents a c) annualized dividend and a dividend yield of 11.1%. The ex-dividend date of this dividend is Monday, December 15th.

Institutional Investors Weigh In On Advent Convertible and Income Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. PMG Family Office LLC purchased a new stake in Advent Convertible and Income Fund in the 3rd quarter worth $390,000. NewEdge Advisors LLC lifted its holdings in Advent Convertible and Income Fund by 18.3% during the third quarter. NewEdge Advisors LLC now owns 70,662 shares of the investment management company’s stock valued at $904,000 after purchasing an additional 10,954 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Advent Convertible and Income Fund by 10.7% in the third quarter. Integrated Wealth Concepts LLC now owns 34,337 shares of the investment management company’s stock valued at $439,000 after purchasing an additional 3,316 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Advent Convertible and Income Fund during the third quarter worth about $156,000. Finally, Bank of America Corp DE increased its stake in shares of Advent Convertible and Income Fund by 4.7% during the third quarter. Bank of America Corp DE now owns 69,815 shares of the investment management company’s stock worth $893,000 after purchasing an additional 3,111 shares in the last quarter.

Advent Convertible and Income Fund Company Profile

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.