Advent Convertible and Income Fund
AVK
54 hedge funds and large institutions have $101M invested in Advent Convertible and Income Fund in 2017 Q3 according to their latest regulatory filings, with 6 funds opening new positions, 12 increasing their positions, 26 reducing their positions, and 9 closing their positions.
5% less funds holding
Funds holding: 57 → 54 (-3)
13.5% less ownership
Funds ownership: 40.65% → 27.14% (-14%)
33% less capital invested
Capital invested by funds: $151M → $101M (-$49.8M)
33% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 9
54% less repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 26
100% less funds holding in top 10
Funds holding in top 10: 2 → 0 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LCM
Laurion Capital Management
New York
|
+$2.5M |
| 2 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
+$1.04M |
| 3 |
EDRIA
Edmonds Duncan Registered Investment Advisors
Lawrence,
Kansas
|
+$502K |
| 4 |
Invesco
Atlanta,
Georgia
|
+$478K |
| 5 |
DA
Doliver Advisors
Houston,
Texas
|
+$332K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$25.2M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$8.92M |
| 3 |
EVM
Eaton Vance Management
Boston,
Massachusetts
|
-$4.3M |
| 4 |
OA
Oxbow Advisors
Austin,
Texas
|
-$4.15M |
| 5 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$2.71M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
51
Citigroup
New York
| $6K | +$221 | +14 | +4% |
|
|
TRCT
52
Tower Research Capital (TRC)
New York
| $3K | +$3.23K | +205 | New |
|
53
SEI Investments
Oaks,
Pennsylvania
| $2K | – | – | – |
|
|
EVM
54
Eaton Vance Management
Boston,
Massachusetts
| – | -$4.3M | -273,244 | Closed |
|
|
OA
55
Oxbow Advisors
Austin,
Texas
| – | -$4.15M | -264,098 | Closed |
|
|
CI
56
Cavalier Investments
Alpharetta,
Georgia
| – | -$497K | -31,615 | Closed |
|
57
Ameriprise
Minneapolis,
Minnesota
| – | -$384K | -24,399 | Closed |
|
|
NMC
58
Nine Masts Capital
Central,
Hong Kong
| – | -$76K | -4,827 | Closed |
|
|
DADC
59
D.A. Davidson & Co
Great Falls,
Montana
| – | -$14K | -945 | Closed |
|
60
Creative Planning
Overland Park,
Kansas
| – | -$10K | -668 | Closed |
|
|
MA
61
MUFG Americas
New York
| – | -$8K | -482 | Closed |
|
|
PCM
62
Penserra Capital Management
Orinda,
California
| – | -$5K | -375 | Closed |
|
AVK Hedge Fund Activity: Q3 2017 in Review
54 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q3 2017, worth a combined $101M — down 33% from $151M a quarter earlier.
Sellers outnumbered buyers: 9 funds closed out of AVK and 6 opened new positions — a net loss of 3 holders — while 26 trimmed existing stakes and 12 added.
The largest buyer was Laurion Capital Management, opening a new position worth an estimated $2.5M. The largest seller was Saba Capital Management, cutting an estimated $25.2M.
- 54 institutional investors held Advent Convertible and Income Fund (AVK) as of Q3 2017, down from 57 in Q2 2017.
- Funds reported $101M of Advent Convertible and Income Fund stock for Q3 2017, down 33% quarter-over-quarter.
- 6 funds opened new Advent Convertible and Income Fund positions in Q3 2017 and 9 closed out, a net change of -3 holders.
- The largest Advent Convertible and Income Fund buyer in Q3 2017 was Laurion Capital Management, an estimated $2.5M added.
- The largest Advent Convertible and Income Fund seller in Q3 2017 was Saba Capital Management, an estimated $25.2M sold.
Based on aggregated 13F filings for Q3 2017.