Advent Convertible and Income Fund
AVK
74 hedge funds and large institutions have $109M invested in Advent Convertible and Income Fund in 2020 Q3 according to their latest regulatory filings, with 10 funds opening new positions, 27 increasing their positions, 19 reducing their positions, and 9 closing their positions.
42% more repeat investments, than reductions
Existing positions increased: 27 | Existing positions reduced: 19
11% more first-time investments, than exits
New positions opened: 10 | Existing positions closed: 9
1% more funds holding
Funds holding: 73 → 74 (+1)
2.1% less ownership
Funds ownership: 26.9% → 24.81% (-2.1%)
8% less capital invested
Capital invested by funds: $118M → $109M (-$9.66M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Stifel Financial
St. Louis,
Missouri
|
+$1.02M |
| 2 |
6M
6 Meridian
Wichita,
Kansas
|
+$878K |
| 3 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
+$796K |
| 4 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
+$725K |
| 5 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$518K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
-$4.76M |
| 2 |
AAM
Advisors Asset Management
Monument,
Colorado
|
-$3.22M |
| 3 |
FAM
Formidable Asset Management
Cincinnati,
Ohio
|
-$2.82M |
| 4 |
Wells Fargo
San Francisco,
California
|
-$1.29M |
| 5 |
Morgan Stanley
New York
|
-$1.07M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
SFS
76
Shaker Financial Services
Arlington,
Virginia
| – | -$376K | -29,544 | Closed |
|
77
BlackRock
New York
| – | -$230K | -18,075 | Closed |
|
|
LCM
78
Landscape Capital Management
Englewood,
New Jersey
| – | -$144K | -11,305 | Closed |
|
|
CAN
79
Cetera Advisor Networks
El Segundo,
California
| – | -$49K | -3,830 | Closed |
|
80
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| – | -$7K | -527 | Closed |
|
|
GI
81
Gradient Investments
Arden Hills,
Minnesota
| – | -$3K | -256 | Closed |
|
AVK Hedge Fund Activity: Q3 2020 in Review
74 of the 4,956 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q3 2020, worth a combined $109M — down 8.2% from $118M a quarter earlier.
Buyers outnumbered sellers: 10 funds opened new AVK positions and 9 closed out — a net gain of 1 holder — while 27 added to existing stakes and 19 trimmed.
The largest buyer was Stifel Financial, adding an estimated $1.02M. The largest seller was Raymond James & Associates, cutting an estimated $4.76M.
- 74 institutional investors held Advent Convertible and Income Fund (AVK) as of Q3 2020, up from 73 in Q2 2020.
- Funds reported $109M of Advent Convertible and Income Fund stock for Q3 2020, down 8.2% quarter-over-quarter.
- 10 funds opened new Advent Convertible and Income Fund positions in Q3 2020 and 9 closed out, a net change of +1 holder.
- The largest Advent Convertible and Income Fund buyer in Q3 2020 was Stifel Financial, an estimated $1.02M added.
- The largest Advent Convertible and Income Fund seller in Q3 2020 was Raymond James & Associates, an estimated $4.76M sold.
Based on aggregated 13F filings for Q3 2020.