Advent Convertible and Income Fund (NYSE:AVK) Short Interest Up 35.3% in March

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 103,100 shares, a growth of 35.3% from the February 28th total of 76,200 shares. Based on an average daily volume of 154,300 shares, the short-interest ratio is currently 0.7 days.

Advent Convertible and Income Fund Stock Down 0.7 %

Shares of NYSE AVK traded down $0.09 during mid-day trading on Tuesday, hitting $11.45. The stock had a trading volume of 97,562 shares, compared to its average volume of 160,744. The business has a 50 day moving average price of $11.93 and a two-hundred day moving average price of $11.84. Advent Convertible and Income Fund has a 1 year low of $11.06 and a 1 year high of $12.97.

Advent Convertible and Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.1172 per share. This represents a $1.41 annualized dividend and a dividend yield of 12.29%. The ex-dividend date of this dividend was Friday, March 14th.

Institutional Trading of Advent Convertible and Income Fund

A number of institutional investors have recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in Advent Convertible and Income Fund during the 4th quarter valued at approximately $66,000. Wolverine Asset Management LLC purchased a new stake in Advent Convertible and Income Fund in the fourth quarter worth $101,000. Encompass More Asset Management bought a new stake in Advent Convertible and Income Fund in the third quarter valued at $140,000. Landscape Capital Management L.L.C. purchased a new position in Advent Convertible and Income Fund during the 4th quarter valued at $147,000. Finally, Jaffetilchin Investment Partners LLC raised its holdings in Advent Convertible and Income Fund by 21.3% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 16,342 shares of the investment management company’s stock worth $192,000 after purchasing an additional 2,867 shares in the last quarter.

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.