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AVK

Advent Convertible and Income Fund
AVK

55 hedge funds and large institutions have $85.7M invested in Advent Convertible and Income Fund in 2018 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 21 increasing their positions, 16 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

31% more repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 16

2.81% less ownership

Funds ownership: 27.21% → 24.4% (-2.8%)

9% less capital invested

Capital invested by funds: $94.5M → $85.7M (-$8.87M)

10% less funds holding

Funds holding: 61 → 55 (-6)

50% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 10

Holders
55
Holders Change
-6
Holders Change %
-9.84%
% of All Funds
1.26%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
21
Reduced
16
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
OA
Oxbow Advisors
Texas
+$2.29M
2
BlackRock
BlackRock
New York
+$1.92M
3
Koshinski Asset Management
Koshinski Asset Management
Illinois
+$796K
4
Bank of America
Bank of America
North Carolina
+$768K
5
AAM
Advisors Asset Management
Colorado
+$763K

Top Sellers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
-$3.91M
2
EVM
Eaton Vance Management
Massachusetts
-$3.29M
3
WAM
Wolverine Asset Management
Illinois
-$2.85M
4
SIA
Sit Investment Associates
Minnesota
-$2.08M
5
RCM
Rivernorth Capital Management
Florida
-$1.93M
Name Holding Trade Value Shares
Change 		Change in
Stake
SCM
26
Saba Capital Management
New York
$384K -$3.91M -262,441 -91%
CIA
27
Capital Investment Advisors
Georgia
$320K -$24.7K -1,653 -7%
PAS
28
Park Avenue Securities
New York
$301K +$34K +2,277 +13%
NFG
29
Nations Financial Group
Iowa
$274K – – –
PWPS
30
Pinnacle Wealth Planning Services
Ohio
$212K -$5.68K -381 -3%
SPC
31
Sigma Planning Corp
Michigan
$176K +$373 +25 +0.2%
DA
32
Doliver Advisors
Texas
$175K -$427K -28,607 -71%
VCM
33
Virtue Capital Management
Tennessee
$171K +$3.28K +220 +2%
LTFS
34
Ladenburg Thalmann Financial Services
Florida
$169K – – –
CF
35
Centaurus Financial
California
$153K +$153K +10,270 New
Royal Bank of Canada
36
Royal Bank of Canada
Ontario, Canada
$120K -$4.28K -287 -3%
TDC
37
Thompson Davis & Co
Virginia
$93K – – –
AG
38
Advisor Group
Arizona
$85K – – –
IFAM
39
Institutional & Family Asset Management
Colorado
$62K – – –
IA
40
IFP Advisors
Florida
$49K – – –
Citigroup
41
Citigroup
New York
$47K +$41.9K +2,807 +681%
RCAG
42
Rehmann Capital Advisory Group
Michigan
$43.3K – – –
IWP
43
Icon Wealth Partners
Texas
$32K +$32.4K +2,173 New
ZB
44
Zions Bancorporation
Utah
$31K – – –
NSIM
45
North Star Investment Management
Illinois
$28K +$641 +43 +2%
CPIG
46
Chicago Partners Investment Group
Illinois
$20K +$462 +31 +2%
OIA
47
OneDigital Investment Advisors
Kansas
$16K -$761 -51 -4%
SPIA
48
Steward Partners Investment Advisory
New York
$13K – – –
SEI Investments
49
SEI Investments
Pennsylvania
$8K -$38.3K -2,568 -83%
AIM
50
Anchor Investment Management
South Carolina
$7.64K – – –
1
2
3

AVK Hedge Fund Activity: Q2 2018 in Review

55 of the 4,369 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q2 2018, worth a combined $85.7M — down 9.4% from $94.5M a quarter earlier.

Sellers outnumbered buyers: 10 funds closed out of AVK and 5 opened new positions — a net loss of 5 holders — while 16 trimmed existing stakes and 21 added.

The largest buyer was Oxbow Advisors, opening a new position worth an estimated $2.29M. The largest seller was Saba Capital Management, cutting an estimated $3.91M.

  • 55 institutional investors held Advent Convertible and Income Fund (AVK) as of Q2 2018, down from 61 in Q1 2018.
  • Funds reported $85.7M of Advent Convertible and Income Fund stock for Q2 2018, down 9.4% quarter-over-quarter.
  • 5 funds opened new Advent Convertible and Income Fund positions in Q2 2018 and 10 closed out, a net change of -5 holders.
  • The largest Advent Convertible and Income Fund buyer in Q2 2018 was Oxbow Advisors, an estimated $2.29M added.
  • The largest Advent Convertible and Income Fund seller in Q2 2018 was Saba Capital Management, an estimated $3.91M sold.

Based on aggregated 13F filings for Q2 2018.