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NCV

Virtus Convertible & Income Fund
NCV

44 hedge funds and large institutions have $95.2M invested in Virtus Convertible & Income Fund in 2014 Q1 according to their latest regulatory filings, with 3 funds opening new positions, 17 increasing their positions, 11 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

55% more repeat investments, than reductions

Existing positions increased: 17 | Existing positions reduced: 11

10% more capital invested

Capital invested by funds: $86.7M → $95.2M (+$8.5M)

0.11% more ownership

Funds ownership: 2.78% → 2.89% (+0.11%)

14% less funds holding

Funds holding: 51 → 44 (-7)

70% less first-time investments, than exits

New positions opened: 3 | Existing positions closed: 10

Holders
44
Holders Change
-7
Holders Change %
-13.73%
% of All Funds
1.27%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
3
Increased
17
Reduced
11
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
IH
IFC Holdings
Florida
+$2.18M
2
Bank of America
Bank of America
North Carolina
+$1.88M
3
LPL Financial
LPL Financial
California
+$970K
4
Morgan Stanley
Morgan Stanley
New York
+$572K
5
NPC
National Planning Corporation
California
+$468K

Top Sellers

Rank Fund Capital Flow
1
SG Americas Securities
SG Americas Securities
New York
-$1.08M
2
Cohen & Steers
Cohen & Steers
New York
-$1.06M
3
B
Baird
Wisconsin
-$568K
4
AIG
American International Group
New York
-$194K
5
GC
Guggenheim Capital
Illinois
-$174K
Name Holding Trade Value Shares
Change 		Change in
Stake
AIG
26
American International Group
New York
$159K -$194K -4,823 -55%
Creative Planning
27
Creative Planning
Kansas
$134K +$2.5K +62 +2%
ICAS
28
Investors Capital Advisory Services
Massachusetts
$134K +$132K +3,275 New
PAG
29
Private Advisor Group
New Jersey
$121K -$164K -4,062 -58%
NES
30
New England Securities
New York
$47K – – –
WA
31
WFG Advisors
Texas
$41K +$12.3K +306 +44%
Deutsche Bank
32
Deutsche Bank
Germany
$37K – – –
US Bancorp
33
US Bancorp
Minnesota
$35K – – –
SF
34
Synovus Financial
Georgia
$30K +$805 +20 +3%
FMP
35
Financial Management Professionals
Texas
$22K – – –
RFA
36
Reilly Financial Advisors
California
$21K +$20.3K +505 New
RIA
37
Regal Investment Advisors
Michigan
$19K – – –
NSIM
38
North Star Investment Management
Illinois
$13K +$13.1K +325 New
LFR
39
Lehman Financial Resources
Pennsylvania
$10K – – –
MIM
40
Macroview Investment Management
Maryland
$10K – – –
TCM
41
Tradewinds Capital Management
Washington
$7K – – –
1IC
42
1919 Investment Counsel
Maryland
$4K – – –
DADC
43
D.A. Davidson & Co
Montana
$3K -$8.13K -202 -73%
WEC
44
Winslow Evans & Crocker
Massachusetts
$2.05K – – –
PSUF
45
People's United Financial
Connecticut
$2K – – –
SG Americas Securities
46
SG Americas Securities
New York
– -$1.08M -27,805 Closed
B
47
Baird
Wisconsin
– -$568K -14,615 Closed
CA
48
Cetera Advisors
Colorado
– -$99K -2,551 Closed
WS
49
Wedbush Securities
California
– -$97K -2,500 Closed
BRWA
50
B. Riley Wealth Advisors
Florida
– -$47K -1,223 Closed
1
2
3

NCV Hedge Fund Activity: Q1 2014 in Review

44 of the 3,464 institutional investors tracked by Wall St. Rank reported a position in Virtus Convertible & Income Fund (NCV) for Q1 2014, worth a combined $95.2M — up 9.8% from $86.7M a quarter earlier.

Sellers outnumbered buyers: 10 funds closed out of NCV and 3 opened new positions — a net loss of 7 holders — while 11 trimmed existing stakes and 17 added.

The largest buyer was IFC Holdings, adding an estimated $2.18M. The largest seller was SG Americas Securities, exiting entirely with an estimated $1.08M sold.

  • 44 institutional investors held Virtus Convertible & Income Fund (NCV) as of Q1 2014, down from 51 in Q4 2013.
  • Funds reported $95.2M of Virtus Convertible & Income Fund stock for Q1 2014, up 9.8% quarter-over-quarter.
  • 3 funds opened new Virtus Convertible & Income Fund positions in Q1 2014 and 10 closed out, a net change of -7 holders.
  • The largest Virtus Convertible & Income Fund buyer in Q1 2014 was IFC Holdings, an estimated $2.18M added.
  • The largest Virtus Convertible & Income Fund seller in Q1 2014 was SG Americas Securities, an estimated $1.08M sold.

Based on aggregated 13F filings for Q1 2014.