Advent Convertible and Income Fund
AVK
75 hedge funds and large institutions have $145M invested in Advent Convertible and Income Fund in 2019 Q1 according to their latest regulatory filings, with 6 funds opening new positions, 37 increasing their positions, 14 reducing their positions, and 12 closing their positions.
164% more repeat investments, than reductions
Existing positions increased: 37 | Existing positions reduced: 14
13.01% more ownership
Funds ownership: 17.53% → 30.55% (+13%)
7% more capital invested
Capital invested by funds: $136M → $145M (+$8.83M)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
7% less funds holding
Funds holding: 81 → 75 (-6)
50% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 12
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPL Financial
San Diego,
California
|
+$1.23M |
| 2 |
LTFS
Ladenburg Thalmann Financial Services
Miami,
Florida
|
+$1.19M |
| 3 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
+$819K |
| 4 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$639K |
| 5 |
ACM
Advent Capital Management
New York
|
+$509K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CRC
Curi RMB Capital
Chicago,
Illinois
|
-$3.24M |
| 2 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$2M |
| 3 |
Morgan Stanley
New York
|
-$1.99M |
| 4 |
Invesco
Atlanta,
Georgia
|
-$1.47M |
| 5 |
JP Morgan Chase
New York
|
-$1.28M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
WAM
76
Wolverine Asset Management
Chicago,
Illinois
| – | -$2M | -163,486 | Closed |
|
|
WAM
77
Weiss Asset Management
Boston,
Massachusetts
| – | -$676K | -55,354 | Closed |
|
78
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$645K | -52,811 | Closed |
|
79
Janney Montgomery Scott
Philadelphia,
Pennsylvania
| – | -$365K | -29,865 | Closed |
|
|
TSS
80
Two Sigma Securities
New York
| – | -$210K | -17,200 | Closed |
|
|
DA
81
Doliver Advisors
Houston,
Texas
| – | -$183K | -15,022 | Closed |
|
|
AIC
82
Ameritas Investment Company
Lincoln,
Nebraska
| – | -$177K | -14,480 | Closed |
|
83
Millennium Management
New York
| – | -$142K | -11,651 | Closed |
|
|
MWA
84
Meridian Wealth Advisors
Austin,
Texas
| – | -$15K | -1,226 | Closed |
|
|
AIM
85
Anchor Investment Management
Columbia,
South Carolina
| – | -$6.27K | -514 | Closed |
|
|
FMP
86
Financial Management Professionals
Austin,
Texas
| – | -$2K | -135 | Closed |
|
87
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| – | -$1K | -121 | Closed |
|
AVK Hedge Fund Activity: Q1 2019 in Review
75 of the 4,621 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q1 2019, worth a combined $145M — up 6.5% from $136M a quarter earlier.
Sellers outnumbered buyers: 12 funds closed out of AVK and 6 opened new positions — a net loss of 6 holders — while 14 trimmed existing stakes and 37 added.
The largest buyer was LPL Financial, adding an estimated $1.23M. The largest seller was Curi RMB Capital, cutting an estimated $3.24M.
- 75 institutional investors held Advent Convertible and Income Fund (AVK) as of Q1 2019, down from 81 in Q4 2018.
- Funds reported $145M of Advent Convertible and Income Fund stock for Q1 2019, up 6.5% quarter-over-quarter.
- 6 funds opened new Advent Convertible and Income Fund positions in Q1 2019 and 12 closed out, a net change of -6 holders.
- The largest Advent Convertible and Income Fund buyer in Q1 2019 was LPL Financial, an estimated $1.23M added.
- The largest Advent Convertible and Income Fund seller in Q1 2019 was Curi RMB Capital, an estimated $3.24M sold.
Based on aggregated 13F filings for Q1 2019.