Virtus Convertible & Income Fund
NCV
55 hedge funds and large institutions have $83.2M invested in Virtus Convertible & Income Fund in 2017 Q1 according to their latest regulatory filings, with 8 funds opening new positions, 21 increasing their positions, 15 reducing their positions, and 10 closing their positions.
40% more repeat investments, than reductions
Existing positions increased: 21 | Existing positions reduced: 15
0.76% less ownership
Funds ownership: 4.26% → 3.5% (-0.76%)
5% less funds holding
Funds holding: 58 → 55 (-3)
13% less capital invested
Capital invested by funds: $95.7M → $83.2M (-$12.4M)
20% less first-time investments, than exits
New positions opened: 8 | Existing positions closed: 10
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
+$3.01M |
| 2 |
Millennium Management
New York
|
+$1.37M |
| 3 |
CIA
Capital Investment Advisors
Atlanta,
Georgia
|
+$977K |
| 4 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$568K |
| 5 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$303K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$13.8M |
| 2 |
VIA
Vident Investment Advisory
Alpharetta,
Georgia
|
-$3.84M |
| 3 |
Bank of Montreal
Toronto,
Ontario, Canada
|
-$3.75M |
| 4 |
Cohen & Steers
New York
|
-$854K |
| 5 |
LCM
Laurion Capital Management
New York
|
-$833K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
CFA
51
Carroll Financial Associates
Charlotte,
North Carolina
| $6K | – | – | – |
|
|
DADC
52
D.A. Davidson & Co
Great Falls,
Montana
| $2K | +$80 | +3 | +3% |
|
|
53
Bank of Montreal
Toronto,
Ontario, Canada
| – | -$3.75M | -146,250 | Closed |
|
|
LCM
54
Laurion Capital Management
New York
| – | -$833K | -32,654 | Closed |
|
|
NMC
55
Nine Masts Capital
Central,
Hong Kong
| – | -$540K | -21,174 | Closed |
|
|
OFG
56
OTA Financial Group
Purchase,
New York
| – | -$381K | -14,931 | Closed |
|
|
PFS
57
Prospera Financial Services
Dallas,
Texas
| – | -$231K | -9,033 | Closed |
|
58
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$100K | -3,914 | Closed |
|
59
Cetera Investment Advisers
Schaumburg,
Illinois
| – | -$85K | -3,310 | Closed |
|
60
JP Morgan Chase
New York
| – | -$19K | -733 | Closed |
|
61
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| – | -$2K | -72 | Closed |
|
|
TRCT
62
Tower Research Capital (TRC)
New York
| – | +$214 | +8 | New |
|
63
SEI Investments
Oaks,
Pennsylvania
| – | +$455 | +17 | New |
|
NCV Hedge Fund Activity: Q1 2017 in Review
55 of the 4,018 institutional investors tracked by Wall St. Rank reported a position in Virtus Convertible & Income Fund (NCV) for Q1 2017, worth a combined $83.2M — down 13% from $95.7M a quarter earlier.
Sellers outnumbered buyers: 10 funds closed out of NCV and 8 opened new positions — a net loss of 2 holders — while 15 trimmed existing stakes and 21 added.
The largest buyer was Bank of America, adding an estimated $3.01M. The largest seller was UBS Group, cutting an estimated $13.8M.
- 55 institutional investors held Virtus Convertible & Income Fund (NCV) as of Q1 2017, down from 58 in Q4 2016.
- Funds reported $83.2M of Virtus Convertible & Income Fund stock for Q1 2017, down 13% quarter-over-quarter.
- 8 funds opened new Virtus Convertible & Income Fund positions in Q1 2017 and 10 closed out, a net change of -2 holders.
- The largest Virtus Convertible & Income Fund buyer in Q1 2017 was Bank of America, an estimated $3.01M added.
- The largest Virtus Convertible & Income Fund seller in Q1 2017 was UBS Group, an estimated $13.8M sold.
Based on aggregated 13F filings for Q1 2017.