Advent Convertible and Income Fund (NYSE:AVK) Short Interest Up 236.9% in January

Advent Convertible and Income Fund (NYSE:AVK) saw a large growth in short interest in January. As of January 15th, there was short interest totaling 333,939 shares, a growth of 236.9% from the December 31st total of 99,120 shares. Based on an average daily volume of 201,074 shares, the days-to-cover ratio is presently 1.7 days. Based on an average daily volume of 201,074 shares, the days-to-cover ratio is presently 1.7 days.

Advent Convertible and Income Fund Price Performance

Shares of Advent Convertible and Income Fund stock traded down $0.12 during midday trading on Friday, hitting $12.69. 145,448 shares of the company were exchanged, compared to its average volume of 206,062. The firm has a 50 day simple moving average of $12.63 and a 200-day simple moving average of $12.57. Advent Convertible and Income Fund has a 52 week low of $9.75 and a 52 week high of $13.10.

Advent Convertible and Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 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 Thursday, January 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. LFA Lugano Financial Advisors SA bought a new position in shares of Advent Convertible and Income Fund in the 4th quarter worth $34,000. Geneos Wealth Management Inc. lifted its stake in Advent Convertible and Income Fund by 301.1% in 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 period. Atlantic Union Bankshares Corp bought a new position in Advent Convertible and Income Fund during the third quarter worth about $60,000. Ballew Advisors Inc acquired a new position in shares of Advent Convertible and Income Fund during the 4th quarter worth about $129,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Advent Convertible and Income Fund in the 3rd quarter valued at about $156,000.

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.