Short Interest in Advent Convertible and Income Fund (NYSE:AVK) Decreases By 84.1%

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 53,114 shares, a decrease of 84.1% from the January 15th total of 333,939 shares. Based on an average daily volume of 211,162 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 211,162 shares, the days-to-cover ratio is presently 0.3 days.

Advent Convertible and Income Fund Trading Up 0.6%

Shares of AVK stock traded up $0.08 on Tuesday, reaching $12.77. 188,639 shares of the stock were exchanged, compared to its average volume of 195,242. The firm has a 50 day moving average of $12.65 and a two-hundred day moving average of $12.60. 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 Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.1172 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend is Friday, February 13th.

Institutional Trading of Advent Convertible and Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of the company. LFA Lugano Financial Advisors SA acquired a new position in Advent Convertible and Income Fund during the 4th quarter valued at about $34,000. Geneos Wealth Management Inc. grew its position 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 worth $46,000 after buying an additional 2,984 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Advent Convertible and Income Fund in the 3rd quarter worth $60,000. Ballew Advisors Inc purchased a new position in Advent Convertible and Income Fund in the 4th quarter worth about $129,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Advent Convertible and Income Fund in the third quarter worth approximately $156,000.

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.