Short Interest in Advent Convertible and Income Fund (NYSE:AVK) Drops By 58.0%

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 22,325 shares, a drop of 58.0% from the January 29th total of 53,114 shares. Based on an average daily trading volume, of 178,977 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 178,977 shares, the days-to-cover ratio is currently 0.1 days.

Advent Convertible and Income Fund Stock Down 0.3%

Shares of AVK traded down $0.04 during mid-day trading on Friday, hitting $12.53. The company’s stock had a trading volume of 112,124 shares, compared to its average volume of 182,637. Advent Convertible and Income Fund has a one year low of $9.75 and a one year high of $13.10. The stock’s 50-day moving average is $12.67 and its two-hundred day moving average is $12.64.

Advent Convertible and Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a dividend of $0.1172 per share. This represents a c) annualized dividend and a yield of 11.2%. The ex-dividend date was Friday, February 13th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA bought a new position in shares of Advent Convertible and Income Fund during the fourth quarter valued at $34,000. Geneos Wealth Management Inc. lifted its position in shares of Advent Convertible and Income Fund by 301.1% during the first quarter. Geneos Wealth Management Inc. now owns 3,975 shares of the investment management company’s stock worth $46,000 after purchasing an additional 2,984 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Advent Convertible and Income Fund during the third quarter valued at approximately $60,000. Kestra Advisory Services LLC bought a new stake in shares of Advent Convertible and Income Fund during the fourth quarter valued at approximately $119,000. Finally, Ballew Advisors Inc acquired a new stake in shares of Advent Convertible and Income Fund in the fourth quarter valued at approximately $129,000.

About Advent Convertible and Income Fund

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.