Advent Convertible and Income Fund (NYSE:AVK) Stock Short Interest Declines 41.2%

Advent Convertible and Income Fund (NYSE:AVK) saw a large decline in short interest in September. As of September 30th, there was short interest totaling 33,358 shares, a decline of 41.2% from the September 15th total of 56,722 shares. Based on an average daily volume of 175,667 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Advent Convertible and Income Fund

Several large investors have recently added to or reduced their stakes in AVK. Readystate Asset Management LP acquired a new stake in shares of Advent Convertible and Income Fund during the first quarter worth approximately $1,187,000. Sanctuary Advisors LLC bought a new position in shares of Advent Convertible and Income Fund in the second quarter valued at approximately $885,000. Bank of America Corp DE acquired a new position in shares of Advent Convertible and Income Fund in the 2nd quarter worth approximately $852,000. Heron Bay Capital Management acquired a new position in shares of Advent Convertible and Income Fund in the 2nd quarter worth approximately $561,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Advent Convertible and Income Fund by 44.6% in the 2nd quarter. NewEdge Advisors LLC now owns 96,524 shares of the investment management company’s stock worth $1,264,000 after acquiring an additional 29,770 shares in the last quarter.

Advent Convertible and Income Fund Trading Down 2.3%

Shares of Advent Convertible and Income Fund stock traded down $0.26 during mid-day trading on Friday, reaching $10.88. 218,467 shares of the stock were exchanged, compared to its average volume of 160,477. The firm has a 50-day simple moving average of $12.11 and a 200 day simple moving average of $12.42. Advent Convertible and Income Fund has a fifty-two week low of $10.77 and a fifty-two week high of $13.28.

Advent Convertible and Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be given a $0.1172 dividend. The ex-dividend date is Thursday, October 15th. This represents a $1.41 dividend on an annualized basis and a yield of 12.9%.

Advent Convertible and Income Fund Company Profile

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.