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

Advent Convertible and Income Fund (NYSE:AVK) was the target of a significant 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 currently 0.2 days.

Advent Convertible and Income Fund Stock Performance

AVK opened at $11.28 on Thursday. Advent Convertible and Income Fund has a twelve month low of $10.77 and a twelve month high of $13.28. The company has a 50-day moving average price of $12.18 and a 200 day moving average price of $12.43.

Advent Convertible and Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be issued a $0.1172 dividend. This represents a $1.41 annualized dividend and a yield of 12.5%. The ex-dividend date is Thursday, October 15th.

Institutional Investors Weigh In On Advent Convertible and Income Fund

Large investors have recently bought and sold shares of the company. Shaker Financial Services LLC raised its holdings in shares of Advent Convertible and Income Fund by 48.5% during the third quarter. Shaker Financial Services LLC now owns 44,505 shares of the investment management company’s stock valued at $510,000 after acquiring an additional 14,526 shares during the last quarter. Tactive Advisors LLC boosted its stake in shares of Advent Convertible and Income Fund by 13.9% in the third quarter. Tactive Advisors LLC now owns 16,135 shares of the investment management company’s stock worth $185,000 after acquiring an additional 1,963 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Advent Convertible and Income Fund by 44.6% in the second 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 during the last quarter. Ameritas Advisory Services LLC boosted its stake in shares of Advent Convertible and Income Fund by 18.2% in the second quarter. Ameritas Advisory Services LLC now owns 39,309 shares of the investment management company’s stock worth $515,000 after acquiring an additional 6,063 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Advent Convertible and Income Fund by 7.3% during the second quarter. Benjamin Edwards Inc. now owns 20,255 shares of the investment management company’s stock worth $265,000 after purchasing an additional 1,385 shares in the last quarter.

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.