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

Advent Convertible and Income Fund (NYSE:AVK) was the recipient of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 163,500 shares, a decrease of 10.2% from the November 15th total of 182,100 shares. Based on an average trading volume of 251,100 shares, the days-to-cover ratio is presently 0.7 days.

Insiders Place Their Bets

In other Advent Convertible and Income Fund news, CEO Tracy V. Maitland purchased 13,179 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were 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 owns 45,449 shares in the company, valued at $512,664.72. The trade was a 40.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Randall C. Barnes purchased 3,785 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were acquired at an average cost of $11.28 per share, for a total transaction of $42,694.80. Following the completion of the transaction, the insider now owns 15,140 shares of the company’s stock, valued at $170,779.20. This trade represents a 33.33 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 19,264 shares of company stock valued at $217,298.

Institutional Investors Weigh In On Advent Convertible and Income Fund

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

Advent Convertible and Income Fund Price Performance

NYSE:AVK traded down $0.09 during mid-day trading on Tuesday, reaching $12.14. 153,717 shares of the company’s stock were exchanged, compared to its average volume of 151,337. Advent Convertible and Income Fund has a one year low of $11.01 and a one year high of $12.97. The business’s fifty day simple moving average is $11.75 and its two-hundred day simple moving average is $12.04.

Advent Convertible and Income Fund Increases Dividend

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

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.