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

Advent Convertible and Income Fund (NYSE:AVK) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 163,500 shares, a drop of 10.2% from the November 15th total of 182,100 shares. Based on an average daily trading volume, of 251,100 shares, the short-interest ratio is currently 0.7 days.

Advent Convertible and Income Fund Price Performance

Shares of Advent Convertible and Income Fund stock traded down $0.09 during trading on Tuesday, hitting $12.14. 153,717 shares of the company’s stock traded hands, compared to its average volume of 151,337. The firm’s fifty day moving average price is $11.75 and its 200 day moving average price is $12.04. Advent Convertible and Income Fund has a twelve month low of $11.01 and a twelve month high of $12.97.

Advent Convertible and Income Fund Increases Dividend

The company also recently declared a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.1172 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Advent Convertible and Income Fund’s previous dividend of $0.09.

Insider Buying and Selling at Advent Convertible and Income Fund

In other news, CEO Tracy V. Maitland bought 13,179 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were purchased at an average price of $11.28 per share, for a total transaction of $148,659.12. Following the acquisition, the chief executive officer now directly owns 45,449 shares of the company’s stock, valued at $512,664.72. The trade was a 40.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Tony Huang acquired 2,300 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were bought at an average price of $11.28 per share, for a total transaction of $25,944.00. Following the acquisition, the vice president now owns 9,400 shares in the company, valued at approximately $106,032. This trade represents a 32.39 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 19,264 shares of company stock valued at $217,298 in the last quarter.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Institutional investors have recently modified their holdings of the stock. Capital Investment Advisors LLC bought a new stake in shares of Advent Convertible and Income Fund during the third quarter worth approximately $119,000. Trust Investment Advisors bought a new stake in shares of Advent Convertible and Income Fund during the second quarter worth approximately $133,000. Encompass More Asset Management bought a new stake in Advent Convertible and Income Fund in the third quarter valued at approximately $140,000. Calton & Associates Inc. bought a new stake in Advent Convertible and Income Fund in the third quarter valued at approximately $152,000. Finally, Jaffetilchin Investment Partners LLC increased its stake in Advent Convertible and Income Fund by 29.7% in the second quarter. Jaffetilchin Investment Partners LLC now owns 14,080 shares of the investment management company’s stock valued at $168,000 after purchasing an additional 3,222 shares in the last quarter.

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.