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AVK

Advent Convertible and Income Fund
AVK

75 hedge funds and large institutions have $121M invested in Advent Convertible and Income Fund in 2019 Q3 according to their latest regulatory filings, with 10 funds opening new positions, 31 increasing their positions, 20 reducing their positions, and 3 closing their positions.

New
Increased
Maintained
Reduced
Closed

233% more first-time investments, than exits

New positions opened: 10 | Existing positions closed: 3

55% more repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 20

10% more funds holding

Funds holding: 68 → 75 (+7)

3.29% less ownership

Funds ownership: 30% → 26.71% (-3.3%)

14% less capital invested

Capital invested by funds: $141M → $121M (-$19.6M)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
75
Holders Change
+7
Holders Change %
+10.29%
% of All Funds
1.64%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
10
Increased
31
Reduced
20
Closed
3
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PPA
Parametric Portfolio Associates
Washington
+$2.86M
2
FAM
Formidable Asset Management
Ohio
+$1.71M
3
GC
Guggenheim Capital
Illinois
+$1.06M
4
SFS
Shaker Financial Services
Virginia
+$945K
5
RJFSA
Raymond James Financial Services Advisors
Florida
+$328K

Top Sellers

Rank Fund Capital Flow
1
RJA
Raymond James & Associates
Florida
-$8.4M
2
Koshinski Asset Management
Koshinski Asset Management
Illinois
-$6.63M
3
LPL Financial
LPL Financial
California
-$5.31M
4
AAM
Advisors Asset Management
Colorado
-$1.32M
5
RCM
Rivernorth Capital Management
Florida
-$989K
Name Holding Trade Value Shares
Change 		Change in
Stake
SKK
51
Shepherd Kaplan Krochuk
Massachusetts
$170K +$171K +12,006 New
AIC
52
Ameritas Investment Company
Nebraska
$168K +$169K +11,858 New
RJT
53
Raymond James Trust
Florida
$150K +$151K +10,602 New
SPIA
54
Steward Partners Investment Advisory
New York
$140K +$95.4K +6,686 +207%
PFGIA
55
Patriot Financial Group Insurance Agency
Massachusetts
$116K – – –
IFAM
56
Institutional & Family Asset Management
Colorado
$59K – – –
RIA
57
Realta Investment Advisors
Delaware
$59K +$59.4K +4,163 New
RCAG
58
Rehmann Capital Advisory Group
Michigan
$41.3K – – –
BBPWM
59
Blue Bell Private Wealth Management
Pennsylvania
$40K – – –
Carson Wealth (CWM LLC)
60
Carson Wealth (CWM LLC)
Nebraska
$39K – – –
Citigroup
61
Citigroup
New York
$36K -$2.18K -153 -6%
FIA
62
FNY Investment Advisers
New York
$33K +$33.5K +2,345 New
ZB
63
Zions Bancorporation
Utah
$29K – – –
NSIM
64
North Star Investment Management
Illinois
$27K +$27.5K +1,927 New
ASN
65
Advisory Services Network
Georgia
$18K – – –
GSWM
66
Golden State Wealth Management
California
$15K – – –
PAM
67
Panagora Asset Management
Massachusetts
$15K +$15.5K +1,089 New
MWC
68
MBM Wealth Consultants
Missouri
$14K – – –
BC
69
Bartlett & Co
Ohio
$12K +$6.24K +437 +114%
BCWM
70
Bartlett & Co Wealth Management
Ohio
$11.7K +$6.24K +437 +114%
RCM
71
Rivernorth Capital Management
Florida
$9.8K -$989K -69,276 -9%
AF
72
Advisornet Financial
Minnesota
$5K – – –
SFS
73
Sowell Financial Services
Arkansas
$5K +$4.82K +338 New
PNC Financial Services Group
74
PNC Financial Services Group
Pennsylvania
$4K – – –
GWM
75
Geneos Wealth Management
Colorado
$1K – – –
1 2
3
4

AVK Hedge Fund Activity: Q3 2019 in Review

75 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q3 2019, worth a combined $121M — down 14% from $141M a quarter earlier.

Buyers outnumbered sellers: 10 funds opened new AVK positions and 3 closed out — a net gain of 7 holders — while 31 added to existing stakes and 20 trimmed.

The largest buyer was Parametric Portfolio Associates, adding an estimated $2.86M. The largest seller was Raymond James & Associates, cutting an estimated $8.4M.

  • 75 institutional investors held Advent Convertible and Income Fund (AVK) as of Q3 2019, up from 68 in Q2 2019.
  • Funds reported $121M of Advent Convertible and Income Fund stock for Q3 2019, down 14% quarter-over-quarter.
  • 10 funds opened new Advent Convertible and Income Fund positions in Q3 2019 and 3 closed out, a net change of +7 holders.
  • The largest Advent Convertible and Income Fund buyer in Q3 2019 was Parametric Portfolio Associates, an estimated $2.86M added.
  • The largest Advent Convertible and Income Fund seller in Q3 2019 was Raymond James & Associates, an estimated $8.4M sold.

Based on aggregated 13F filings for Q3 2019.