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

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 290,700 shares, a drop of 13.9% from the August 15th total of 337,600 shares. Based on an average daily trading volume, of 128,700 shares, the short-interest ratio is presently 2.3 days.

Advent Convertible and Income Fund Stock Down 1.1 %

NYSE AVK traded down $0.13 during trading on Wednesday, reaching $12.06. 377,815 shares of the stock traded hands, compared to its average volume of 121,961. Advent Convertible and Income Fund has a fifty-two week low of $9.24 and a fifty-two week high of $12.97. The stock’s 50-day moving average price is $12.50 and its 200 day moving average price is $12.08.

Advent Convertible and Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 2nd will be issued a $0.1172 dividend. This is a positive change from Advent Convertible and Income Fund’s previous monthly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.41 annualized dividend and a dividend yield of 11.66%.

Institutional Trading of Advent Convertible and Income Fund

Large investors have recently made changes to their positions in the company. 9258 Wealth Management LLC lifted its holdings in Advent Convertible and Income Fund by 1.6% during the first quarter. 9258 Wealth Management LLC now owns 59,423 shares of the investment management company’s stock worth $710,000 after acquiring an additional 908 shares in the last quarter. Atomi Financial Group Inc. grew its position in shares of Advent Convertible and Income Fund by 7.4% in the 1st quarter. Atomi Financial Group Inc. now owns 16,782 shares of the investment management company’s stock valued at $200,000 after purchasing an additional 1,163 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Advent Convertible and Income Fund by 0.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 129,619 shares of the investment management company’s stock valued at $1,548,000 after purchasing an additional 1,218 shares during the period. Stolper Co increased its stake in Advent Convertible and Income Fund by 2.3% during the 1st quarter. Stolper Co now owns 56,658 shares of the investment management company’s stock worth $676,000 after purchasing an additional 1,286 shares in the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Advent Convertible and Income Fund by 11.5% during the 1st quarter. Park Avenue Securities LLC now owns 13,064 shares of the investment management company’s stock worth $156,000 after buying an additional 1,348 shares during the period.

Advent Convertible and Income Fund Company Profile

Advent Claymore Convertible Securities and Income Fund is a closed-ended fixed income mutual fund launched and managed by Advent Capital Management, LLC. The fund primarily invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across the diversified sectors.