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

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 94,800 shares, an increase of 8.5% from the May 31st total of 87,400 shares. Based on an average daily volume of 101,500 shares, the short-interest ratio is currently 0.9 days.

Advent Convertible and Income Fund Stock Performance

Shares of AVK traded down $0.06 during midday trading on Wednesday, hitting $11.85. The stock had a trading volume of 85,525 shares, compared to its average volume of 104,942. The company has a 50 day simple moving average of $11.90 and a two-hundred day simple moving average of $11.74. Advent Convertible and Income Fund has a twelve month low of $9.24 and a twelve month high of $12.22.

Advent Convertible and Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $0.1172 dividend. This is a boost from Advent Convertible and Income Fund’s previous monthly dividend of $0.12. The ex-dividend date is Monday, July 15th. This represents a $1.41 annualized dividend and a yield of 11.87%.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Several hedge funds have recently made changes to their positions in the business. MeadowBrook Investment Advisors LLC bought a new stake in shares of Advent Convertible and Income Fund in the fourth quarter worth $55,000. Capital Wealth Alliance LLC bought a new stake in Advent Convertible and Income Fund during the 1st quarter worth about $128,000. Jaffetilchin Investment Partners LLC acquired a new position in shares of Advent Convertible and Income Fund during the 1st quarter worth about $130,000. Capital Investment Advisors LLC grew its holdings in shares of Advent Convertible and Income Fund by 8.8% in the 4th quarter. Capital Investment Advisors LLC now owns 12,419 shares of the investment management company’s stock valued at $141,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Advent Convertible and Income Fund by 11.5% in the 1st quarter. Park Avenue Securities LLC now owns 13,064 shares of the investment management company’s stock valued at $156,000 after acquiring an additional 1,348 shares in the last quarter.

Advent Convertible and Income Fund Company Profile

Advent Claymore Convertible Securities and Income Fund is a closed-ended fixed income mutual fund launched and managed by Advent Capital Management, LLC. The fund primarily invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across the diversified sectors.