Advent Convertible and Income Fund (NYSE:AVK – Get Free Report) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,450,000 shares, an increase of 190.9% from the September 15th total of 498,500 shares. Based on an average daily volume of 190,100 shares, the days-to-cover ratio is presently 7.6 days.
Advent Convertible and Income Fund Trading Up 0.3 %
AVK traded up $0.04 on Friday, hitting $11.51. 215,670 shares of the stock traded hands, compared to its average volume of 133,457. The business has a fifty day moving average price of $12.18 and a two-hundred day moving average price of $12.05. Advent Convertible and Income Fund has a 52 week low of $9.24 and a 52 week high of $12.97.
Advent Convertible and Income Fund Increases Dividend
The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 2nd will be paid a $0.1172 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 12.22%. This is a positive change from Advent Convertible and Income Fund’s previous monthly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, October 2nd.
Institutional Inflows and Outflows
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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