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AVK

Advent Convertible and Income Fund
AVK

61 hedge funds and large institutions have $94.5M invested in Advent Convertible and Income Fund in 2018 Q1 according to their latest regulatory filings, with 6 funds opening new positions, 24 increasing their positions, 21 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

14% more repeat investments, than reductions

Existing positions increased: 24 | Existing positions reduced: 21

0.17% more ownership

Funds ownership: 27.04% → 27.21% (+0.17%)

4% less capital invested

Capital invested by funds: $98.6M → $94.5M (-$4.07M)

5% less funds holding

Funds holding: 64 → 61 (-3)

33% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 9

Holders
61
Holders Change
-3
Holders Change %
-4.69%
% of All Funds
1.4%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
6
Increased
24
Reduced
21
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
EVM
Eaton Vance Management
Massachusetts
+$3.34M
2
LCM
Laurion Capital Management
New York
+$1.85M
3
PPA
Parametric Portfolio Associates
Washington
+$1.44M
4
RJA
Raymond James & Associates
Florida
+$1.36M
5
CRC
Curi RMB Capital
Illinois
+$1.04M

Top Sellers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
-$4.33M
2
SIA
Sit Investment Associates
Minnesota
-$1.91M
3
RCM
Rivernorth Capital Management
Florida
-$1.54M
4
RCM
Robinson Capital Management
Michigan
-$670K
5
Bank of America
Bank of America
North Carolina
-$401K
Name Holding Trade Value Shares
Change 		Change in
Stake
LCM
26
Landscape Capital Management
New Jersey
$598K +$31.6K +2,061 +5%
DA
27
Doliver Advisors
Texas
$592K -$173K -11,317 -22%
Commonwealth Equity Services
28
Commonwealth Equity Services
Massachusetts
$377K -$89.8K -5,862 -19%
Baird Financial Group
29
Baird Financial Group
Wisconsin
$348K +$873 +57 +0.2%
CIA
30
Capital Investment Advisors
Georgia
$340K +$1.18K +77 +0.3%
NFG
31
Nations Financial Group
Iowa
$270K – – –
PAS
32
Park Avenue Securities
New York
$259K +$9.05K +591 +3%
PWPS
33
Pinnacle Wealth Planning Services
Ohio
$216K +$197K +12,870 +719%
MOS
34
MGO One Seven
Ohio
$190K -$9.05K -591 -4%
SPC
35
Sigma Planning Corp
Michigan
$173K -$34.2K -2,236 -16%
LTFS
36
Ladenburg Thalmann Financial Services
Florida
$169K -$191K -12,475 -52%
VCM
37
Virtue Capital Management
Tennessee
$166K +$38K +2,483 +28%
ASN
38
Advisory Services Network
Georgia
$141K -$6.72K -439 -4%
Royal Bank of Canada
39
Royal Bank of Canada
Ontario, Canada
$123K -$13.5K -881 -10%
TDC
40
Thompson Davis & Co
Virginia
$92K +$69.4K +4,533 +262%
AG
41
Advisor Group
Arizona
$84K -$42.5K -2,773 -33%
IFAM
42
Institutional & Family Asset Management
Colorado
$61K +$63.8K +4,168 New
IA
43
IFP Advisors
Florida
$51K – – –
SEI Investments
44
SEI Investments
Pennsylvania
$46K +$45.7K +2,985 +2,508%
RCAG
45
Rehmann Capital Advisory Group
Michigan
$43K +$44.6K +2,912 New
Northwestern Mutual Wealth Management
46
Northwestern Mutual Wealth Management
Wisconsin
$37K – – –
ZB
47
Zions Bancorporation
Utah
$30K – – –
NSIM
48
North Star Investment Management
Illinois
$27K +$613 +40 +2%
IWM
49
IHT Wealth Management
Illinois
$26K +$597 +39 +2%
Bank of Montreal
50
Bank of Montreal
Ontario, Canada
$23K – – –
1
2
3

AVK Hedge Fund Activity: Q1 2018 in Review

61 of the 4,363 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q1 2018, worth a combined $94.5M — down 4.1% from $98.6M a quarter earlier.

Sellers outnumbered buyers: 9 funds closed out of AVK and 6 opened new positions — a net loss of 3 holders — while 21 trimmed existing stakes and 24 added.

The largest buyer was Eaton Vance Management, opening a new position worth an estimated $3.34M. The largest seller was Saba Capital Management, cutting an estimated $4.33M.

  • 61 institutional investors held Advent Convertible and Income Fund (AVK) as of Q1 2018, down from 64 in Q4 2017.
  • Funds reported $94.5M of Advent Convertible and Income Fund stock for Q1 2018, down 4.1% quarter-over-quarter.
  • 6 funds opened new Advent Convertible and Income Fund positions in Q1 2018 and 9 closed out, a net change of -3 holders.
  • The largest Advent Convertible and Income Fund buyer in Q1 2018 was Eaton Vance Management, an estimated $3.34M added.
  • The largest Advent Convertible and Income Fund seller in Q1 2018 was Saba Capital Management, an estimated $4.33M sold.

Based on aggregated 13F filings for Q1 2018.