Short Interest in Advent Convertible and Income Fund (NYSE:AVK) Decreases By 84.2%

Advent Convertible and Income Fund (NYSE:AVK) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 21,000 shares, a decrease of 84.2% from the December 15th total of 132,900 shares. Based on an average daily volume of 213,400 shares, the days-to-cover ratio is currently 0.1 days.

Advent Convertible and Income Fund Stock Up 0.6 %

NYSE:AVK traded up $0.08 during trading hours on Monday, hitting $11.85. The stock had a trading volume of 172,613 shares, compared to its average volume of 177,330. Advent Convertible and Income Fund has a one year low of $11.03 and a one year high of $12.97. The business’s 50 day moving average is $11.94 and its 200-day moving average is $12.03.

Advent Convertible and Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a dividend of $0.1172 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.41 annualized dividend and a yield of 11.87%.

Insider Transactions at Advent Convertible and Income Fund

In related news, CEO Tracy V. Maitland purchased 13,179 shares of Advent Convertible and Income Fund stock in a transaction dated Thursday, October 17th. The stock was acquired at an average cost of $11.28 per share, with a total value of $148,659.12. Following the completion of the transaction, the chief executive officer now directly owns 45,449 shares of the company’s stock, valued at $512,664.72. This trade represents a 40.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Randall C. Barnes purchased 3,785 shares of the stock in a transaction on Thursday, October 17th. The shares were bought at an average price of $11.28 per share, for a total transaction of $42,694.80. Following the acquisition, the insider now owns 15,140 shares of the company’s stock, valued at approximately $170,779.20. The trade was a 33.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 19,264 shares of company stock worth $217,298.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Several hedge funds have recently bought and sold shares of AVK. Choreo LLC bought a new position in Advent Convertible and Income Fund during the second quarter worth $206,000. Trust Investment Advisors bought a new position in Advent Convertible and Income Fund in the second quarter worth approximately $133,000. Sanctuary Advisors LLC bought a new stake in shares of Advent Convertible and Income Fund during the second quarter valued at approximately $581,000. Capital Investment Advisors LLC acquired a new position in shares of Advent Convertible and Income Fund during the third quarter worth approximately $119,000. Finally, Calton & Associates Inc. bought a new position in shares of Advent Convertible and Income Fund in the 3rd quarter worth $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.