Advent Convertible and Income Fund
AVK
60 hedge funds and large institutions have $91.2M invested in Advent Convertible and Income Fund in 2018 Q1 according to their latest regulatory filings, with 5 funds opening new positions, 24 increasing their positions, 21 reducing their positions, and 9 closing their positions.
14% more repeat investments, than reductions
Existing positions increased: 24 | Existing positions reduced: 21
0.75% less ownership
Funds ownership: 27.04% → 26.28% (-0.75%)
6% less funds holding
Funds holding: 64 → 60 (-4)
7% less capital invested
Capital invested by funds: $98.6M → $91.2M (-$7.35M)
44% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 9
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LCM
Laurion Capital Management
New York
|
+$1.85M |
| 2 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
+$1.44M |
| 3 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
+$1.36M |
| 4 |
CRC
Curi RMB Capital
Chicago,
Illinois
|
+$1.04M |
| 5 |
Morgan Stanley
New York
|
+$578K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$4.33M |
| 2 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$1.91M |
| 3 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$1.54M |
| 4 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$670K |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$401K |
AVK Hedge Fund Activity: Q1 2018 in Review
60 of the 4,373 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q1 2018, worth a combined $91.2M — down 7.5% from $98.6M a quarter earlier.
Sellers outnumbered buyers: 9 funds closed out of AVK and 5 opened new positions — a net loss of 4 holders — while 21 trimmed existing stakes and 24 added.
The largest buyer was Laurion Capital Management, adding an estimated $1.85M. The largest seller was Saba Capital Management, cutting an estimated $4.33M.
- 60 institutional investors held Advent Convertible and Income Fund (AVK) as of Q1 2018, down from 64 in Q4 2017.
- Funds reported $91.2M of Advent Convertible and Income Fund stock for Q1 2018, down 7.5% quarter-over-quarter.
- 5 funds opened new Advent Convertible and Income Fund positions in Q1 2018 and 9 closed out, a net change of -4 holders.
- The largest Advent Convertible and Income Fund buyer in Q1 2018 was Laurion Capital Management, an estimated $1.85M added.
- The largest Advent Convertible and Income Fund seller in Q1 2018 was Saba Capital Management, an estimated $4.33M sold.
Based on aggregated 13F filings for Q1 2018.