Advent Convertible and Income Fund (NYSE:AVK) Short Interest Up 15.8% in January

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 83,000 shares, a growth of 15.8% from the January 15th total of 71,700 shares. Based on an average daily trading volume, of 198,400 shares, the days-to-cover ratio is currently 0.4 days.

Advent Convertible and Income Fund Stock Performance

AVK traded down $0.06 during midday trading on Monday, reaching $12.29. The company’s stock had a trading volume of 146,514 shares, compared to its average volume of 163,390. The company has a fifty day simple moving average of $12.07 and a 200 day simple moving average of $12.01. Advent Convertible and Income Fund has a twelve month low of $11.06 and a twelve month high of $12.97.

Advent Convertible and Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.1172 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 11.45%.

Institutional Trading of Advent Convertible and Income Fund

Hedge funds have recently modified their holdings of the company. Wolverine Asset Management LLC bought a new stake in shares of Advent Convertible and Income Fund in the 4th quarter worth approximately $101,000. Capital Investment Advisors LLC bought a new position in shares of Advent Convertible and Income Fund during the 3rd quarter worth approximately $119,000. Encompass More Asset Management bought a new position in shares of Advent Convertible and Income Fund during the 3rd quarter worth approximately $140,000. Landscape Capital Management L.L.C. bought a new position in shares of Advent Convertible and Income Fund during the 4th quarter worth approximately $147,000. Finally, Calton & Associates Inc. bought a new position in shares of Advent Convertible and Income Fund during the 3rd quarter worth approximately $152,000.

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.