Advent Convertible and Income Fund (NYSE:AVK) Short Interest Update

Advent Convertible and Income Fund (NYSE:AVK) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 35,808 shares, an increase of 263.1% from the May 14th total of 9,862 shares. Based on an average daily volume of 183,550 shares, the days-to-cover ratio is presently 0.2 days.

Advent Convertible and Income Fund Stock Performance

Shares of Advent Convertible and Income Fund stock traded up $0.15 during trading hours on Thursday, reaching $12.73. The stock had a trading volume of 164,488 shares, compared to its average volume of 166,898. The firm has a 50 day simple moving average of $12.51 and a two-hundred day simple moving average of $12.46. Advent Convertible and Income Fund has a 1 year low of $10.77 and a 1 year high of $13.28.

Advent Convertible and Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.1172 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date is Monday, June 15th.

Hedge Funds Weigh In On Advent Convertible and Income Fund

A number of large investors have recently modified their holdings of AVK. Raymond James Financial Inc. raised its holdings in shares of Advent Convertible and Income Fund by 8.5% in the 3rd quarter. Raymond James Financial Inc. now owns 1,456,665 shares of the investment management company’s stock worth $18,631,000 after purchasing an additional 114,371 shares during the period. Readystate Asset Management LP acquired a new stake in shares of Advent Convertible and Income Fund in the first quarter valued at about $1,187,000. Guggenheim Capital LLC grew its stake in shares of Advent Convertible and Income Fund by 15.2% in the fourth quarter. Guggenheim Capital LLC now owns 785,038 shares of the investment management company’s stock valued at $9,844,000 after buying an additional 103,476 shares in the last quarter. &PARTNERS acquired a new stake in shares of Advent Convertible and Income Fund in the fourth quarter valued at about $1,024,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Advent Convertible and Income Fund by 6.7% in the fourth quarter. Advisors Asset Management Inc. now owns 788,747 shares of the investment management company’s stock valued at $9,891,000 after buying an additional 49,595 shares in the last quarter.

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.