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AVK

Advent Convertible and Income Fund

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.

New
Increased
Maintained
Reduced
Closed

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: 6459 (-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: 31 (-2)

Holders
59
Holders Change
-5
Holders Change %
-7.81%
% of All Funds
1.57%
Holding in Top 10
1
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-66.67%
% of All Funds
0.03%
New
6
Increased
19
Reduced
29
Closed
11
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
SCM
1
Saba Capital Management
New York
$15M +$14.2M +1,163,400 New
PPA
2
Parametric Portfolio Associates
Washington
$13.5M +$193K +15,818 +2%
OA
3
Oxbow Advisors
Texas
$12.5M -$351K -28,783 -3%
RCM
4
Rivernorth Capital Management
Florida
$9.38M +$4.89M +400,970 +122%
Morgan Stanley
5
Morgan Stanley
New York
$6.3M +$113K +9,250 +2%
WCM
6
Windsor Capital Management
Arizona
$4.45M -$434K -35,551 -9%
WAM
7
Wolverine Asset Management
Illinois
$4.32M -$1.34M -109,449 -25%
AAM
8
Advisors Asset Management
Colorado
$4.07M -$24.1K -1,977 -0.6%
GC
9
Guggenheim Capital
Illinois
$3.53M +$92K +7,540 +3%
MC
10
Matisse Capital
Oregon
$3.31M -$3.7M -303,478 -54%
Koshinski Asset Management
11
Koshinski Asset Management
Illinois
$3.05M +$2.57M +210,792 +791%
Wells Fargo
12
Wells Fargo
California
$3.05M -$473K -38,729 -14%
EVM
13
Eaton Vance Management
Massachusetts
$2.8M +$38.2K +3,128 +1%
LCM
14
Landscape Capital Management
New Jersey
$2.18M -$164K -13,404 -7%
CA
15
Cornerstone Advisors
North Carolina
$2.03M -$71.3K -5,841 -4%
MM
16
Midas Management
New York
$1.78M -$81.5K -6,675 -5%
RJA
17
Raymond James & Associates
Florida
$1.57M -$197K -16,148 -12%
NMC
18
Nine Masts Capital
Hong Kong
$1.56M +$596K +48,866 +67%
LPL Financial
19
LPL Financial
California
$1.56M -$37.3K -3,058 -2%
MIG
20
Mariner Investment Group
New York
$1.4M -$1.25K -102 -0.1%
Ameriprise
21
Ameriprise
Minnesota
$1.39M -$2.21M -180,934 -63%
RJFSA
22
Raymond James Financial Services Advisors
Florida
$1.15M +$649K +53,178 +148%
First Trust Advisors
23
First Trust Advisors
Illinois
$898K +$139K +11,377 +19%
DA
24
Doliver Advisors
Texas
$853K -$359K -29,412 -31%
CIA
25
Capital Investment Advisors
Georgia
$645K -$227K -18,620 -27%

AVK Hedge Fund Activity: Q1 2016 in Review

59 of the 3,753 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.