Advent Convertible and Income Fund (NYSE:AVK) saw a significant drop in short interest in April. As of April 15th, there was short interest totalling 40,200 shares, a drop of 26.2% from the March 31st total of 54,500 shares. Based on an average daily volume of 149,400 shares, the days-to-cover ratio is presently 0.3 days.
Shares of NYSE AVK traded down $0.10 during midday trading on Tuesday, reaching $18.37. 141,684 shares of the stock were exchanged, compared to its average volume of 139,972. The business has a 50-day simple moving average of $17.92 and a two-hundred day simple moving average of $16.62. Advent Convertible and Income Fund has a 12 month low of $11.13 and a 12 month high of $18.69.
The business also recently disclosed a monthly dividend, which was paid on Friday, April 30th. Investors of record on Thursday, April 15th were issued a dividend of $0.1172 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 7.66%. This is a positive change from Advent Convertible and Income Fund’s previous monthly dividend of $0.12. The ex-dividend date was Wednesday, April 14th.
Several large investors have recently modified their holdings of AVK. FNY Investment Advisers LLC acquired a new stake in shares of Advent Convertible and Income Fund during the fourth quarter worth $38,000. Graves Light Private Wealth Management Inc. acquired a new stake in Advent Convertible and Income Fund in the 4th quarter valued at $73,000. NEXT Financial Group Inc increased its stake in shares of Advent Convertible and Income Fund by 23.4% during the 4th quarter. NEXT Financial Group Inc now owns 4,566 shares of the investment management company’s stock worth $75,000 after purchasing an additional 866 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Advent Convertible and Income Fund during the 4th quarter worth about $176,000. Finally, Jane Street Group LLC bought a new stake in Advent Convertible and Income Fund in the 4th quarter valued at about $253,000.
About Advent Convertible and Income Fund
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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