Advent Convertible and Income Fund (NYSE:AVK) Short Interest Down 37.0% in August

Advent Convertible and Income Fund (NYSE:AVK) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 56,048 shares, a decline of 37.0% from the August 15th total of 88,996 shares. Based on an average daily trading volume, of 140,689 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Advent Convertible and Income Fund

Hedge funds have recently made changes to their positions in the business. MeadowBrook Investment Advisors LLC purchased a new position in Advent Convertible and Income Fund during the first quarter worth about $53,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Advent Convertible and Income Fund in the 1st quarter valued at about $114,000. Calamos Advisors LLC purchased a new stake in Advent Convertible and Income Fund in the 1st quarter valued at about $139,000. IMC Chicago LLC acquired a new position in shares of Advent Convertible and Income Fund during the 2nd quarter valued at about $140,000. Finally, High Net Worth Advisory Group LLC acquired a new position in shares of Advent Convertible and Income Fund during the 1st quarter valued at about $154,000.

Advent Convertible and Income Fund Stock Performance

Shares of NYSE AVK opened at $11.81 on Wednesday. Advent Convertible and Income Fund has a 1 year low of $10.77 and a 1 year high of $13.28. The firm’s 50 day moving average price is $12.57 and its 200 day moving average price is $12.48.

Advent Convertible and Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.1172 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

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.