Advent Convertible and Income Fund
AVK
59 hedge funds and large institutions have $108M invested in Advent Convertible and Income Fund in 2016 Q1 according to their latest regulatory filings, with 6 funds opening new positions, 19 increasing their positions, 29 reducing their positions, and 11 closing their positions.
1.97% more ownership
Funds ownership: 33.56% → 35.53% (+2%)
4% more capital invested
Capital invested by funds: $104M → $108M (+$3.96M)
8% less funds holding
Funds holding: 64 → 59 (-5)
34% less repeat investments, than reductions
Existing positions increased: 19 | Existing positions reduced: 29
45% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 11
67% less funds holding in top 10
Funds holding in top 10: 3 → 1 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$14.2M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$4.89M |
| 3 |
Koshinski Asset Management
Decatur,
Illinois
|
+$2.57M |
| 4 |
RJFSA
Raymond James Financial Services Advisors
St. Petersburg,
Florida
|
+$649K |
| 5 |
NMC
Nine Masts Capital
Central,
Hong Kong
|
+$596K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MC
Matisse Capital
Portland,
Oregon
|
-$3.7M |
| 2 |
CRC
Curi RMB Capital
Chicago,
Illinois
|
-$2.72M |
| 3 |
FRM
Fore Research & Management
New York
|
-$2.23M |
| 4 |
Ameriprise
Minneapolis,
Minnesota
|
-$2.21M |
| 5 |
CS
Credit Suisse
Zurich,
Switzerland
|
-$1.76M |
AVK Hedge Fund Activity: Q1 2016 in Review
59 of the 3,767 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q1 2016, worth a combined $108M — up 3.8% from $104M a quarter earlier.
Sellers outnumbered buyers: 11 funds closed out of AVK and 6 opened new positions — a net loss of 5 holders — while 29 trimmed existing stakes and 19 added.
The largest buyer was Saba Capital Management, opening a new position worth an estimated $14.2M. The largest seller was Matisse Capital, cutting an estimated $3.7M.
- 59 institutional investors held Advent Convertible and Income Fund (AVK) as of Q1 2016, down from 64 in Q4 2015.
- Funds reported $108M of Advent Convertible and Income Fund stock for Q1 2016, up 3.8% quarter-over-quarter.
- 6 funds opened new Advent Convertible and Income Fund positions in Q1 2016 and 11 closed out, a net change of -5 holders.
- The largest Advent Convertible and Income Fund buyer in Q1 2016 was Saba Capital Management, an estimated $14.2M added.
- The largest Advent Convertible and Income Fund seller in Q1 2016 was Matisse Capital, an estimated $3.7M sold.
Based on aggregated 13F filings for Q1 2016.