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

Advent Convertible and Income Fund (NYSE:AVK) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 23,000 shares, a decline of 68.6% from the August 15th total of 73,300 shares. Based on an average daily volume of 89,300 shares, the days-to-cover ratio is currently 0.3 days.

Shares of NYSE:AVK traded down $0.03 during trading on Friday, reaching $19.05. 46,771 shares of the company traded hands, compared to its average volume of 119,141. Advent Convertible and Income Fund has a 52 week low of $13.22 and a 52 week high of $19.91. The company’s 50 day moving average is $19.17 and its two-hundred day moving average is $18.67.

The business also recently declared a monthly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 15th will be paid a $0.117 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $1.40 annualized dividend and a dividend yield of 7.37%.

Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Advent Convertible and Income Fund by 132.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,016 shares of the investment management company’s stock valued at $77,000 after purchasing an additional 2,286 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Advent Convertible and Income Fund by 38.7% during the first quarter. Rockefeller Capital Management L.P. now owns 10,400 shares of the investment management company’s stock valued at $183,000 after buying an additional 2,900 shares during the period. Transcend Wealth Collective LLC boosted its stake in Advent Convertible and Income Fund by 14.7% during the first quarter. Transcend Wealth Collective LLC now owns 11,681 shares of the investment management company’s stock valued at $207,000 after buying an additional 1,500 shares during the period. NEXT Financial Group Inc lifted its stake in Advent Convertible and Income Fund by 813.2% during the second quarter. NEXT Financial Group Inc now owns 16,985 shares of the investment management company’s stock worth $327,000 after purchasing an additional 15,125 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its holdings in shares of 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 during the period.

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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