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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
+$2.86M |
| 2 |
FAM
Formidable Asset Management
Cincinnati,
Ohio
|
+$1.71M |
| 3 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$1.06M |
| 4 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
+$945K |
| 5 |
RJFSA
Raymond James Financial Services Advisors
St. Petersburg,
Florida
|
+$328K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
-$8.4M |
| 2 |
Koshinski Asset Management
Decatur,
Illinois
|
-$6.63M |
| 3 |
LPL Financial
San Diego,
California
|
-$5.31M |
| 4 |
AAM
Advisors Asset Management
Monument,
Colorado
|
-$1.32M |
| 5 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$989K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
76
Koshinski Asset Management
Decatur,
Illinois
| – | -$6.63M | -452,039 | Closed |
|
77
US Bancorp
Minneapolis,
Minnesota
| – | -$51K | -3,504 | Closed |
|
|
CFB
78
Cullen/Frost Bankers
San Antonio,
Texas
| – | -$6K | -381 | Closed |
|
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.