Advent Convertible and Income Fund (NYSE:AVK) Short Interest Down 58.7% in May

Advent Convertible and Income Fund (NYSE:AVK) saw a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 9,862 shares, a drop of 58.7% from the April 30th total of 23,898 shares. Based on an average daily trading volume, of 130,340 shares, the short-interest ratio is presently 0.1 days.

Advent Convertible and Income Fund Price Performance

NYSE AVK traded up $0.01 during trading hours on Friday, hitting $13.07. The company’s stock had a trading volume of 206,020 shares, compared to its average volume of 168,595. Advent Convertible and Income Fund has a 12 month low of $10.77 and a 12 month high of $13.14. The company’s 50 day simple moving average is $12.24 and its two-hundred day simple moving average is $12.43.

Advent Convertible and Income Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.1172 dividend. The ex-dividend date was Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVK. LFA Lugano Financial Advisors SA purchased a new stake in Advent Convertible and Income Fund in the fourth quarter worth approximately $34,000. Geneos Wealth Management Inc. lifted its holdings in shares of Advent Convertible and Income Fund by 301.1% during the 1st 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. MeadowBrook Investment Advisors LLC purchased a new position in shares of Advent Convertible and Income Fund in the 1st quarter worth $53,000. Atlantic Union Bankshares Corp purchased a new position in shares of Advent Convertible and Income Fund in the 3rd quarter worth $60,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Advent Convertible and Income Fund in the first quarter worth $114,000.

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.