Advent Convertible and Income Fund
AVK
56 hedge funds and large institutions have $121M invested in Advent Convertible and Income Fund in 2016 Q3 according to their latest regulatory filings, with 11 funds opening new positions, 24 increasing their positions, 14 reducing their positions, and 5 closing their positions.
120% more first-time investments, than exits
New positions opened: 11 | Existing positions closed: 5
71% more repeat investments, than reductions
Existing positions increased: 24 | Existing positions reduced: 14
12% more funds holding
Funds holding: 50 → 56 (+6)
10% more capital invested
Capital invested by funds: $109M → $121M (+$11.2M)
1.87% more ownership
Funds ownership: 34.17% → 36.04% (+1.9%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$2.8M |
| 2 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$2.41M |
| 3 |
Wells Fargo
San Francisco,
California
|
+$1.91M |
| 4 |
AWA
Arete Wealth Advisors
Chicago,
Illinois
|
+$1.61M |
| 5 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
+$1.13M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MIG
Mariner Investment Group
Harrison,
New York
|
-$3.42M |
| 2 |
OA
Oxbow Advisors
Austin,
Texas
|
-$795K |
| 3 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
-$747K |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$715K |
| 5 |
CA
Cornerstone Advisors
Asheville,
North Carolina
|
-$538K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
BC
51
Bartlett & Co
Cincinnati,
Ohio
| $5K | – | – | – |
|
|
BCMIO
52
Beacon Capital Management Inc (Ohio)
Dayton,
Ohio
| $4K | -$6.58K | -462 | -64% |
|
|
PCM
53
Penserra Capital Management
Orinda,
California
| $4K | +$1.17K | +82 | +32% |
|
54
SEI Investments
Oaks,
Pennsylvania
| $3K | +$3.09K | +217 | New |
|
|
CHP
55
Cable Hill Partners
Portland,
Oregon
| $3K | +$3.33K | +234 | New |
|
|
MIG
56
Mariner Investment Group
Harrison,
New York
| – | -$3.42M | -252,171 | Closed |
|
|
WAM
57
Wolverine Asset Management
Chicago,
Illinois
| – | -$715K | -52,641 | Closed |
|
|
CA
58
Cornerstone Advisors
Asheville,
North Carolina
| – | -$538K | -39,603 | Closed |
|
|
AA
59
AQR Arbitrage
Greenwich,
Connecticut
| – | -$228K | -16,808 | Closed |
|
60
Deutsche Bank
Frankfurt Am Main Ge,
Germany
| – | -$15K | -1,130 | Closed |
|
AVK Hedge Fund Activity: Q3 2016 in Review
56 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q3 2016, worth a combined $121M — up 10% from $109M a quarter earlier.
Buyers outnumbered sellers: 11 funds opened new AVK positions and 5 closed out — a net gain of 6 holders — while 24 added to existing stakes and 14 trimmed.
The largest buyer was Saba Capital Management, adding an estimated $2.8M. The largest seller was Mariner Investment Group, exiting entirely with an estimated $3.42M sold.
- 56 institutional investors held Advent Convertible and Income Fund (AVK) as of Q3 2016, up from 50 in Q2 2016.
- Funds reported $121M of Advent Convertible and Income Fund stock for Q3 2016, up 10% quarter-over-quarter.
- 11 funds opened new Advent Convertible and Income Fund positions in Q3 2016 and 5 closed out, a net change of +6 holders.
- The largest Advent Convertible and Income Fund buyer in Q3 2016 was Saba Capital Management, an estimated $2.8M added.
- The largest Advent Convertible and Income Fund seller in Q3 2016 was Mariner Investment Group, an estimated $3.42M sold.
Based on aggregated 13F filings for Q3 2016.