Advent Convertible and Income Fund (NYSE:AVK) Short Interest Up 236.9% in January

Advent Convertible and Income Fund (NYSE:AVK) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 333,939 shares, a growth of 236.9% from the December 31st total of 99,120 shares. Based on an average daily volume of 201,074 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily volume of 201,074 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Stolper Co grew its holdings in Advent Convertible and Income Fund by 1.4% during the 4th quarter. Stolper Co now owns 61,919 shares of the investment management company’s stock worth $776,000 after acquiring an additional 833 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Advent Convertible and Income Fund by 3.1% in the second quarter. Concurrent Investment Advisors LLC now owns 29,124 shares of the investment management company’s stock worth $353,000 after purchasing an additional 886 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in Advent Convertible and Income Fund in the fourth quarter valued at $34,000. Geneos Wealth Management Inc. increased its stake in shares of Advent Convertible and Income Fund by 301.1% in the first 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. Finally, Bank of America Corp DE raised its holdings in Advent Convertible and Income Fund by 4.7% during the 3rd quarter. Bank of America Corp DE now owns 69,815 shares of the investment management company’s stock worth $893,000 after purchasing an additional 3,111 shares during the last quarter.

Advent Convertible and Income Fund Stock Down 0.5%

AVK stock traded down $0.07 during midday trading on Thursday, hitting $12.80. The company’s stock had a trading volume of 178,462 shares, compared to its average volume of 209,256. Advent Convertible and Income Fund has a twelve month low of $9.75 and a twelve month high of $13.10. The company’s fifty day moving average price is $12.62 and its 200 day moving average price is $12.57.

Advent Convertible and Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be paid a dividend of $0.1172 per share. The ex-dividend date is Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 11.0%.

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.