Advent Convertible and Income Fund (NYSE:AVK – Get Free Report) 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
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.
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