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 the month of May. As of May 29th, there was short interest totaling 35,808 shares, a growth of 263.1% from the May 14th total of 9,862 shares. Based on an average daily volume of 183,550 shares, the days-to-cover ratio is presently 0.2 days.

Advent Convertible and Income Fund Trading Up 1.2%

NYSE:AVK traded up $0.15 during midday trading on Thursday, reaching $12.73. 164,488 shares of the company traded hands, compared to its average volume of 166,898. 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 fifty day moving average price of $12.51 and a 200 day moving average price of $12.46.

Advent Convertible and Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.1172 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 11.1%.

Institutional Investors Weigh In On Advent Convertible and Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of AVK. Raymond James Financial Inc. raised its position in shares of Advent Convertible and Income Fund by 8.5% during the third quarter. Raymond James Financial Inc. now owns 1,456,665 shares of the investment management company’s stock worth $18,631,000 after purchasing an additional 114,371 shares during the period. Readystate Asset Management LP purchased a new position in Advent Convertible and Income Fund in the first quarter valued at about $1,187,000. Guggenheim Capital LLC grew its stake in Advent Convertible and Income Fund by 15.2% in the fourth quarter. Guggenheim Capital LLC now owns 785,038 shares of the investment management company’s stock valued at $9,844,000 after purchasing an additional 103,476 shares in the last quarter. &PARTNERS bought a new stake in shares of Advent Convertible and Income Fund during the 4th quarter worth about $1,024,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Advent Convertible and Income Fund by 6.7% during the 4th quarter. Advisors Asset Management Inc. now owns 788,747 shares of the investment management company’s stock worth $9,891,000 after acquiring an additional 49,595 shares in the last quarter.

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.