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

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 totaling 56,048 shares, a drop of 37.0% from the August 15th total of 88,996 shares. Based on an average daily volume of 140,689 shares, the short-interest ratio is presently 0.4 days.

Advent Convertible and Income Fund Stock Up 1.9%

Shares of NYSE AVK traded up $0.23 during midday trading on Thursday, reaching $12.06. 178,974 shares of the stock were exchanged, compared to its average volume of 156,349. The company has a 50 day simple moving average of $12.53 and a 200 day simple moving average of $12.47. Advent Convertible and Income Fund has a twelve month low of $10.77 and a twelve month high of $13.28.

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Advent Convertible and Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.1172 dividend. This represents a c) annualized dividend and a yield of 11.7%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On Advent Convertible and Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its position in shares of Advent Convertible and Income Fund by 44.6% during the 2nd quarter. NewEdge Advisors LLC now owns 96,524 shares of the investment management company’s stock worth $1,264,000 after purchasing an additional 29,770 shares during the last quarter. Ameritas Advisory Services LLC lifted its stake in Advent Convertible and Income Fund by 18.2% during the second quarter. Ameritas Advisory Services LLC now owns 39,309 shares of the investment management company’s stock worth $515,000 after purchasing an additional 6,063 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Advent Convertible and Income Fund by 7.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 20,255 shares of the investment management company’s stock valued at $265,000 after acquiring an additional 1,385 shares during the period. IMC Chicago LLC acquired a new position in Advent Convertible and Income Fund in the 2nd quarter valued at about $140,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in shares of Advent Convertible and Income Fund during the second quarter worth about $204,000.

About Advent Convertible and Income Fund

(Get Free Report)

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.

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