Advent Convertible and Income Fund
AVK
55 hedge funds and large institutions have $85.7M invested in Advent Convertible and Income Fund in 2018 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 21 increasing their positions, 16 reducing their positions, and 10 closing their positions.
31% more repeat investments, than reductions
Existing positions increased: 21 | Existing positions reduced: 16
2.81% less ownership
Funds ownership: 27.21% → 24.4% (-2.8%)
9% less capital invested
Capital invested by funds: $94.5M → $85.7M (-$8.87M)
10% less funds holding
Funds holding: 61 → 55 (-6)
50% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 10
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
OA
Oxbow Advisors
Austin,
Texas
|
+$2.29M |
| 2 |
BlackRock
New York
|
+$1.92M |
| 3 |
Koshinski Asset Management
Decatur,
Illinois
|
+$796K |
| 4 |
Bank of America
Charlotte,
North Carolina
|
+$768K |
| 5 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$763K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$3.91M |
| 2 |
EVM
Eaton Vance Management
Boston,
Massachusetts
|
-$3.29M |
| 3 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$2.85M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$2.08M |
| 5 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$1.93M |
AVK Hedge Fund Activity: Q2 2018 in Review
55 of the 4,369 institutional investors tracked by Wall St. Rank reported a position in Advent Convertible and Income Fund (AVK) for Q2 2018, worth a combined $85.7M — down 9.4% from $94.5M a quarter earlier.
Sellers outnumbered buyers: 10 funds closed out of AVK and 5 opened new positions — a net loss of 5 holders — while 16 trimmed existing stakes and 21 added.
The largest buyer was Oxbow Advisors, opening a new position worth an estimated $2.29M. The largest seller was Saba Capital Management, cutting an estimated $3.91M.
- 55 institutional investors held Advent Convertible and Income Fund (AVK) as of Q2 2018, down from 61 in Q1 2018.
- Funds reported $85.7M of Advent Convertible and Income Fund stock for Q2 2018, down 9.4% quarter-over-quarter.
- 5 funds opened new Advent Convertible and Income Fund positions in Q2 2018 and 10 closed out, a net change of -5 holders.
- The largest Advent Convertible and Income Fund buyer in Q2 2018 was Oxbow Advisors, an estimated $2.29M added.
- The largest Advent Convertible and Income Fund seller in Q2 2018 was Saba Capital Management, an estimated $3.91M sold.
Based on aggregated 13F filings for Q2 2018.