Advent Convertible and Income Fund (NYSE:AVK) Short Interest Up 20.5% in February

Advent Convertible and Income Fund (NYSE:AVK) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 26,910 shares, an increase of 20.5% from the February 12th total of 22,325 shares. Based on an average daily trading volume, of 134,718 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 134,718 shares, the days-to-cover ratio is currently 0.2 days.

Advent Convertible and Income Fund Stock Performance

Shares of AVK traded up $0.08 during trading hours on Tuesday, reaching $11.98. 97,411 shares of the company’s stock traded hands, compared to its average volume of 172,816. Advent Convertible and Income Fund has a 12 month low of $9.75 and a 12 month high of $13.10. The firm’s 50 day simple moving average is $12.59 and its 200-day simple moving average is $12.62.

Advent Convertible and Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.1172 dividend. This represents a c) dividend on an annualized basis and a yield of 11.7%. The ex-dividend date of this dividend is Friday, March 13th.

Institutional Trading of Advent Convertible and Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in AVK. LFA Lugano Financial Advisors SA purchased a new position in Advent Convertible and Income Fund in the fourth quarter worth $34,000. Geneos Wealth Management Inc. lifted its stake in 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 during the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Advent Convertible and Income Fund in the 3rd quarter worth about $60,000. Kestra Advisory Services LLC purchased a new position in shares of Advent Convertible and Income Fund in the 4th quarter worth about $119,000. Finally, Ballew Advisors Inc bought a new position in shares of Advent Convertible and Income Fund during the 4th quarter valued at about $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.