Advent Convertible and Income Fund (NYSE:AVK) Short Interest Down 71.8% in September

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 8,700 shares, a decrease of 71.8% from the September 15th total of 30,800 shares. Based on an average daily volume of 83,400 shares, the days-to-cover ratio is currently 0.1 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of AVK. Rockefeller Capital Management L.P. boosted its holdings in shares of Advent Convertible and Income Fund by 7.4% during the second quarter. Rockefeller Capital Management L.P. now owns 11,172 shares of the investment management company’s stock worth $215,000 after purchasing an additional 772 shares during the period. Royal Bank of Canada raised its stake in Advent Convertible and Income Fund by 3.7% in the first quarter. Royal Bank of Canada now owns 30,043 shares of the investment management company’s stock worth $530,000 after buying an additional 1,074 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in Advent Convertible and Income Fund by 8.4% in the second quarter. Nations Financial Group Inc. IA ADV now owns 19,175 shares of the investment management company’s stock worth $370,000 after buying an additional 1,482 shares in the last quarter. Baird Financial Group Inc. raised its stake in Advent Convertible and Income Fund by 1.6% in the second quarter. Baird Financial Group Inc. now owns 106,728 shares of the investment management company’s stock worth $2,057,000 after buying an additional 1,643 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Advent Convertible and Income Fund by 2.8% in the second quarter. Commonwealth Equity Services LLC now owns 72,624 shares of the investment management company’s stock worth $1,399,000 after buying an additional 1,946 shares in the last quarter.

AVK traded up $0.15 during trading on Thursday, reaching $18.99. The stock had a trading volume of 48,556 shares, compared to its average volume of 116,689. Advent Convertible and Income Fund has a one year low of $13.47 and a one year high of $19.91. The business has a 50-day moving average of $18.97 and a 200-day moving average of $18.85.

The firm also recently declared a monthly dividend, which will be paid on Friday, October 29th. Shareholders of record on Friday, October 15th will be given a dividend of $0.117 per share. The ex-dividend date is Thursday, October 14th. This represents a $1.40 annualized dividend and a yield of 7.39%.

Advent Convertible and Income Fund Company Profile

Advent Convertible & Income Fund operates as a closed-end investment fund. It focuses on convertible securities and non-convertible income securities. The company was founded on February 19, 2003 and is headquartered in New York, NY.

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