Advent Convertible and Income Fund (NYSE:AVK) Short Interest Update

Advent Convertible and Income Fund (NYSE:AVK) was the target of a large growth in short interest in 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 trading volume of 201,074 shares, the short-interest ratio is currently 1.7 days. Based on an average trading volume of 201,074 shares, the short-interest ratio is currently 1.7 days.

Advent Convertible and Income Fund Stock Up 0.4%

NYSE AVK traded up $0.05 on Wednesday, hitting $12.85. 103,085 shares of the company’s stock were exchanged, compared to its average volume of 210,971. The stock has a 50-day moving average of $12.60 and a 200-day moving average of $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 business also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be paid a $0.1172 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date is Thursday, January 15th.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its stake 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 buying an additional 2,984 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Advent Convertible and Income Fund during the 3rd quarter valued at $60,000. Ballew Advisors Inc bought a new stake in Advent Convertible and Income Fund during the 4th quarter worth $129,000. Elevation Point Wealth Partners LLC bought a new stake in Advent Convertible and Income Fund during the 3rd quarter worth $156,000. Finally, L.M. Kohn & Company acquired a new position in Advent Convertible and Income Fund in the 2nd quarter worth about $159,000.

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.