Advent Convertible and Income Fund (NYSE:AVK) Short Interest Up 20.5% in February

Advent Convertible and Income Fund (NYSE:AVK) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 26,910 shares, an increase of 20.5% from the February 12th total of 22,325 shares. Based on an average daily volume of 134,718 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 134,718 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Advent Convertible and Income Fund

Large investors have recently added to or reduced their stakes in the stock. Stolper Co grew its stake in Advent Convertible and Income Fund by 1.4% in the 4th quarter. Stolper Co now owns 61,919 shares of the investment management company’s stock worth $776,000 after acquiring an additional 833 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Advent Convertible and Income Fund by 3.5% during the fourth quarter. International Assets Investment Management LLC now owns 47,636 shares of the investment management company’s stock valued at $597,000 after acquiring an additional 1,600 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new stake in shares of Advent Convertible and Income Fund during the fourth quarter valued at approximately $34,000. Benjamin Edwards Inc. boosted its holdings in shares of Advent Convertible and Income Fund by 17.5% in the fourth quarter. Benjamin Edwards Inc. now owns 19,093 shares of the investment management company’s stock valued at $239,000 after purchasing an additional 2,850 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of 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 purchasing an additional 2,984 shares during the period.

Advent Convertible and Income Fund Stock Up 0.5%

Shares of AVK traded up $0.07 during trading hours on Monday, reaching $11.91. 120,608 shares of the company traded hands, compared to its average volume of 174,324. The stock’s fifty day moving average price is $12.59 and its 200 day moving average price is $12.62. Advent Convertible and Income Fund has a 12-month low of $9.75 and a 12-month high of $13.10.

Advent Convertible and Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.1172 per share. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 11.8%.

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.