Advent Convertible and Income Fund
AVK
55 hedge funds and large institutions have $125M invested in Advent Convertible and Income Fund in 2016 Q4 according to their latest regulatory filings, with 6 funds opening new positions, 21 increasing their positions, 16 reducing their positions, and 6 closing their positions.
31% more repeat investments, than reductions
Existing positions increased: 21 | Existing positions reduced: 16
1.15% more ownership
Funds ownership: 36.04% → 37.19% (+1.1%)
4% more capital invested
Capital invested by funds: $121M → $125M (+$4.7M)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
0% more first-time investments, than exits
New positions opened: 6 | Existing positions closed: 6
2% less funds holding
Funds holding: 56 → 55 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$2.15M |
| 2 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$1.71M |
| 3 |
CRC
Curi RMB Capital
Chicago,
Illinois
|
+$1.37M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$1.36M |
| 5 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
+$1.23M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
EVM
Eaton Vance Management
Boston,
Massachusetts
|
-$3.02M |
| 2 |
Morgan Stanley
New York
|
-$1.18M |
| 3 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
-$505K |
| 4 |
OA
Oxbow Advisors
Austin,
Texas
|
-$410K |
| 5 |
CAN
Cetera Advisor Networks
El Segundo,
California
|
-$349K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
PCM
51
Penserra Capital Management
Orinda,
California
| $5K | +$583 | +42 | +12% |
|
|
SPIA
52
Steward Partners Investment Advisory
New York
| $5K | +$5.52K | +398 | New |
|
53
SEI Investments
Oaks,
Pennsylvania
| $3K | – | – | – |
|
|
AA
54
Ancora Advisors
Cleveland,
Ohio
| $3K | +$3.07K | +221 | New |
|
|
AF
55
Allworth Financial
Folsom,
California
| $2K | – | – | – |
|
|
AIM
56
Acrospire Investment Management
Chicago,
Illinois
| $1K | +$1.43K | +103 | New |
|
57
CIBC World Market
Toronto,
Ontario, Canada
| – | -$171K | -12,060 | Closed |
|
|
NMC
58
Nine Masts Capital
Central,
Hong Kong
| – | -$62K | -4,356 | Closed |
|
|
LCM
59
Liberty Capital Management
Birmingham,
Michigan
| – | -$7K | -514 | Closed |
|
|
BCMIO
60
Beacon Capital Management Inc (Ohio)
Dayton,
Ohio
| – | -$4K | -257 | Closed |
|
|
CHP
61
Cable Hill Partners
Portland,
Oregon
| – | -$3K | -234 | Closed |
|
AVK Hedge Fund Activity: Q4 2016 in Review
55 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q4 2016, worth a combined $125M — up 3.9% from $121M a quarter earlier.
Fund positioning in AVK was balanced in Q4 2016: 6 funds opened new positions, 6 closed out, 21 added to existing stakes and 16 trimmed.
The largest buyer was Saba Capital Management, adding an estimated $2.15M. The largest seller was Eaton Vance Management, cutting an estimated $3.02M.
- 55 institutional investors held Advent Convertible and Income Fund (AVK) as of Q4 2016, down from 56 in Q3 2016.
- Funds reported $125M of Advent Convertible and Income Fund stock for Q4 2016, up 3.9% quarter-over-quarter.
- 6 funds opened new Advent Convertible and Income Fund positions in Q4 2016 and 6 closed out, a net change of 0 holders.
- The largest Advent Convertible and Income Fund buyer in Q4 2016 was Saba Capital Management, an estimated $2.15M added.
- The largest Advent Convertible and Income Fund seller in Q4 2016 was Eaton Vance Management, an estimated $3.02M sold.
Based on aggregated 13F filings for Q4 2016.