Advent Convertible and Income Fund (NYSE:AVK) Short Interest Up 97.6% in March

Advent Convertible and Income Fund (NYSE:AVK) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 53,184 shares, a growth of 97.6% from the February 26th total of 26,910 shares. Based on an average daily volume of 147,335 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Advent Convertible and Income Fund

Hedge funds have recently bought and sold shares of the company. LFA Lugano Financial Advisors SA bought a new position in Advent Convertible and Income Fund in the fourth quarter valued at about $34,000. Geneos Wealth Management Inc. boosted its position in 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 worth $46,000 after purchasing an additional 2,984 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Advent Convertible and Income Fund during the 3rd quarter valued at about $60,000. Kestra Advisory Services LLC bought a new stake in shares of Advent Convertible and Income Fund during the 4th quarter valued at about $119,000. Finally, Ballew Advisors Inc purchased a new stake in shares of Advent Convertible and Income Fund during the 4th quarter valued at about $129,000.

Advent Convertible and Income Fund Trading Down 1.7%

NYSE:AVK traded down $0.19 during trading hours on Thursday, reaching $11.32. The company had a trading volume of 160,818 shares, compared to its average volume of 172,761. The firm’s 50 day moving average price is $12.40 and its 200-day moving average price is $12.57. Advent Convertible and Income Fund has a 52 week low of $9.75 and a 52 week high of $13.10.

Advent Convertible and Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.1172 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.4%. The ex-dividend date is Friday, March 13th.

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.