Advent Convertible and Income Fund
AVK
50 hedge funds and large institutions have $109M invested in Advent Convertible and Income Fund in 2016 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 18 increasing their positions, 18 reducing their positions, and 14 closing their positions.
100% more funds holding in top 10
Funds holding in top 10: 1 → 2 (+1)
2% more capital invested
Capital invested by funds: $108M → $109M (+$1.7M)
0% more repeat investments, than reductions
Existing positions increased: 18 | Existing positions reduced: 18
1.36% less ownership
Funds ownership: 35.53% → 34.17% (-1.4%)
15% less funds holding
Funds holding: 59 → 50 (-9)
64% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 14
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$15.2M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$4.94M |
| 3 |
EVM
Eaton Vance Management
Boston,
Massachusetts
|
+$2.91M |
| 4 |
Wells Fargo
San Francisco,
California
|
+$1.98M |
| 5 |
MIG
Mariner Investment Group
Harrison,
New York
|
+$1.91M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
-$13.5M |
| 2 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$3.78M |
| 3 |
MC
Matisse Capital
Portland,
Oregon
|
-$3.31M |
| 4 |
MM
Midas Management
New York
|
-$1.78M |
| 5 |
CA
Cornerstone Advisors
Asheville,
North Carolina
|
-$1.58M |
AVK Hedge Fund Activity: Q2 2016 in Review
50 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q2 2016, worth a combined $109M — up 1.6% from $108M a quarter earlier.
Sellers outnumbered buyers: 14 funds closed out of AVK and 5 opened new positions — a net loss of 9 holders — while 18 trimmed existing stakes and 18 added.
The largest buyer was Saba Capital Management, adding an estimated $15.2M. The largest seller was Parametric Portfolio Associates, exiting entirely with an estimated $13.5M sold.
- 50 institutional investors held Advent Convertible and Income Fund (AVK) as of Q2 2016, down from 59 in Q1 2016.
- Funds reported $109M of Advent Convertible and Income Fund stock for Q2 2016, up 1.6% quarter-over-quarter.
- 5 funds opened new Advent Convertible and Income Fund positions in Q2 2016 and 14 closed out, a net change of -9 holders.
- The largest Advent Convertible and Income Fund buyer in Q2 2016 was Saba Capital Management, an estimated $15.2M added.
- The largest Advent Convertible and Income Fund seller in Q2 2016 was Parametric Portfolio Associates, an estimated $13.5M sold.
Based on aggregated 13F filings for Q2 2016.