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AVK

Advent Convertible and Income Fund

59 hedge funds and large institutions have $108M invested in Advent Convertible and Income Fund in 2016 Q1 according to their latest regulatory filings, with 6 funds opening new positions, 19 increasing their positions, 29 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

1.97% more ownership

Funds ownership: 33.56%35.53% (+2%)

4% more capital invested

Capital invested by funds: $104M → $108M (+$3.96M)

8% less funds holding

Funds holding: 6459 (-5)

34% less repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 29

45% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 11

67% less funds holding in top 10

Funds holding in top 10: 31 (-2)

Holders
59
Holders Change
-5
Holders Change %
-7.81%
% of All Funds
1.57%
Holding in Top 10
1
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-66.67%
% of All Funds
0.03%
New
6
Increased
19
Reduced
29
Closed
11
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
RCM
26
Robinson Capital Management
Michigan
$593K +$563K +46,136 New
Bank of America
27
Bank of America
North Carolina
$580K +$35.6K +2,918 +7%
Invesco
28
Invesco
Georgia
$501K -$204K -16,685 -30%
UBS Group
29
UBS Group
Switzerland
$457K -$39K -3,199 -8%
SG Americas Securities
30
SG Americas Securities
New York
$451K +$9.62K +788 +2%
AWA
31
Arete Wealth Advisors
Illinois
$421K +$41.4K +3,391 +12%
AA
32
AQR Arbitrage
Connecticut
$345K -$3.36K -275 -1%
Baird Financial Group
33
Baird Financial Group
Wisconsin
$323K +$3.09K +253 +1%
CAN
34
Cetera Advisor Networks
California
$252K +$8.14K +667 +4%
SFS
35
Shaker Financial Services
Virginia
$223K -$323K -26,484 -60%
RTS
36
Round Table Services
New Jersey
$194K
MFS
37
MSI Financial Services
Massachusetts
$165K -$24.4K -1,996 -13%
Citigroup
38
Citigroup
New York
$160K -$514K -42,136 -77%
CIBC World Market
39
CIBC World Market
Ontario, Canada
$149K +$2.1K +172 +2%
JCM
40
JD Capital Management
Connecticut
$133K +$126K +10,335 New
Royal Bank of Canada
41
Royal Bank of Canada
Ontario, Canada
$85K -$48.6K -3,981 -38%
PNC Financial Services Group
42
PNC Financial Services Group
Pennsylvania
$84K +$50.6K +4,145 +171%
DADC
43
D.A. Davidson & Co
Montana
$77K -$9.53K -781 -11%
AIG
44
American International Group
New York
$72K +$18.8K +1,541 +38%
LTFS
45
Ladenburg Thalmann Financial Services
Florida
$50K +$366 +30 +0.8%
CPIG
46
Chicago Partners Investment Group
Illinois
$44K -$3.53K -289 -8%
BBPWM
47
Blue Bell Private Wealth Management
Pennsylvania
$35K -$38.2K -3,133 -53%
ZB
48
Zions Bancorporation
Utah
$27K
Bank of Montreal
49
Bank of Montreal
Ontario, Canada
$20K
NSIM
50
North Star Investment Management
Illinois
$16K +$342 +28 +2%

AVK Hedge Fund Activity: Q1 2016 in Review

59 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q1 2016, worth a combined $108M — up 3.8% from $104M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of AVK and 6 opened new positions — a net loss of 5 holders — while 29 trimmed existing stakes and 19 added.

The largest buyer was Saba Capital Management, opening a new position worth an estimated $14.2M. The largest seller was Matisse Capital, cutting an estimated $3.7M.

  • 59 institutional investors held Advent Convertible and Income Fund (AVK) as of Q1 2016, down from 64 in Q4 2015.
  • Funds reported $108M of Advent Convertible and Income Fund stock for Q1 2016, up 3.8% quarter-over-quarter.
  • 6 funds opened new Advent Convertible and Income Fund positions in Q1 2016 and 11 closed out, a net change of -5 holders.
  • The largest Advent Convertible and Income Fund buyer in Q1 2016 was Saba Capital Management, an estimated $14.2M added.
  • The largest Advent Convertible and Income Fund seller in Q1 2016 was Matisse Capital, an estimated $3.7M sold.

Based on aggregated 13F filings for Q1 2016.