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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
BC
51
Bartlett & Co
Ohio
$6K – – –
BCWM
52
Bartlett & Co Wealth Management
Ohio
$5.73K – – –
PNC Financial Services Group
53
PNC Financial Services Group
Pennsylvania
$4K -$18K -1,209 -81%
HNB
54
Huntington National Bank
Ohio
$3K – – –
Manulife (Manufacturers Life Insurance)
55
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$3K +$75 +5 +2%
BBPWM
56
Blue Bell Private Wealth Management
Pennsylvania
$2K +$1.54K +103 New
EVM
57
Eaton Vance Management
Massachusetts
– -$3.29M -217,884 Closed
WAM
58
Wolverine Asset Management
Illinois
– -$2.85M -194,367 Closed
SIA
59
Sit Investment Associates
Minnesota
– -$2.08M -141,660 Closed
SFS
60
Shaker Financial Services
Virginia
– -$740K -50,408 Closed
ASN
61
Advisory Services Network
Georgia
– -$141K -9,583 Closed
Northwestern Mutual Wealth Management
62
Northwestern Mutual Wealth Management
Wisconsin
– -$37K -2,535 Closed
IWM
63
IHT Wealth Management
Illinois
– -$26K -1,763 Closed
Bank of Montreal
64
Bank of Montreal
Ontario, Canada
– -$23K -1,541 Closed
PCM
65
PenderFund Capital Management
British Columbia, Canada
– -$15K -1,027 Closed
SWP
66
Stratos Wealth Partners
Ohio
– -$13K -905 Closed
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.