Advent Convertible and Income Fund (NYSE:AVK – Get Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 33,358 shares, a drop of 41.2% from the September 15th total of 56,722 shares. Based on an average daily trading volume, of 175,667 shares, the short-interest ratio is presently 0.2 days.
Institutional Trading of Advent Convertible and Income Fund
A number of large investors have recently modified their holdings of the company. Fifth Third Bancorp purchased a new position in Advent Convertible and Income Fund during the 1st quarter worth $211,000. Arete Wealth Advisors LLC grew its position in shares of Advent Convertible and Income Fund by 3.1% during the 1st quarter. Arete Wealth Advisors LLC now owns 317,688 shares of the investment management company’s stock worth $3,552,000 after buying an additional 9,640 shares in the last quarter. Kestra Advisory Services LLC grew its position in shares of Advent Convertible and Income Fund by 178.5% during the 1st quarter. Kestra Advisory Services LLC now owns 26,431 shares of the investment management company’s stock worth $295,000 after buying an additional 16,940 shares in the last quarter. Readystate Asset Management LP bought a new position in shares of Advent Convertible and Income Fund during the 1st quarter worth $1,187,000. Finally, FCA Corp TX increased its stake in shares of Advent Convertible and Income Fund by 3.4% during the first quarter. FCA Corp TX now owns 239,080 shares of the investment management company’s stock valued at $2,668,000 after buying an additional 7,855 shares during the period.
Advent Convertible and Income Fund Trading Down 2.3%
AVK traded down $0.26 on Friday, reaching $10.88. 218,467 shares of the company traded hands, compared to its average volume of 160,477. Advent Convertible and Income Fund has a one year low of $10.77 and a one year high of $13.28. The firm has a fifty day simple moving average of $12.11 and a two-hundred day simple moving average of $12.42.
Advent Convertible and Income Fund Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.1172 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 12.9%.
About Advent Convertible and Income Fund
Advent Convertible and Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol AVK. The fund seeks to provide a combination of current income and capital appreciation by investing primarily in convertible securities and other income-producing investments.
The fund’s portfolio may include convertible bonds, convertible preferred stocks, corporate bonds and other debt instruments. Convertible securities can provide income while also offering the potential to participate in the equity performance of the issuing company.
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