Short Interest in Advent Convertible and Income Fund (NYSE:AVK) Decreases By 84.2%

Advent Convertible and Income Fund (NYSE:AVK) saw a significant decrease in short interest in January. As of January 15th, there was short interest totalling 21,000 shares, a decrease of 84.2% from the December 31st total of 132,900 shares. Based on an average daily volume of 213,400 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Advent Convertible and Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Calamos Advisors LLC purchased a new position in Advent Convertible and Income Fund in the 4th quarter valued at $386,000. Absolute Investment Advisers LLC acquired a new stake in shares of Advent Convertible and Income Fund in the fourth quarter valued at about $9,384,000. Encompass More Asset Management raised its position in shares of Advent Convertible and Income Fund by 23.1% in the fourth quarter. Encompass More Asset Management now owns 14,660 shares of the investment management company’s stock valued at $173,000 after buying an additional 2,755 shares during the last quarter. Arete Wealth Advisors LLC lifted its stake in shares of Advent Convertible and Income Fund by 105.6% in the third quarter. Arete Wealth Advisors LLC now owns 600,039 shares of the investment management company’s stock worth $7,044,000 after buying an additional 308,255 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Advent Convertible and Income Fund during the third quarter worth about $373,000.

Advent Convertible and Income Fund Price Performance

Advent Convertible and Income Fund stock traded down $0.08 during trading on Wednesday, reaching $12.10. The company had a trading volume of 141,639 shares, compared to its average volume of 175,036. The firm’s 50-day simple moving average is $12.05 and its 200 day simple moving average is $12.04. Advent Convertible and Income Fund has a 1-year low of $11.06 and a 1-year high of $12.97.

Advent Convertible and Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a $0.1172 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.41 annualized dividend and a dividend yield of 11.62%.

About Advent Convertible and Income Fund

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.