Short Interest in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Rises By 100.0%

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 7,200 shares, an increase of 100.0% from the November 15th total of 3,600 shares. Based on an average trading volume of 63,100 shares, the short-interest ratio is currently 0.1 days.

The Gabelli Convertible and Income Securities Fund Trading Up 0.7 %

Shares of NYSE:GCV traded up $0.03 during midday trading on Friday, hitting $3.94. 68,439 shares of the company’s stock were exchanged, compared to its average volume of 50,300. The Gabelli Convertible and Income Securities Fund has a 12 month low of $3.35 and a 12 month high of $4.34. The stock has a 50 day moving average price of $3.85 and a 200-day moving average price of $3.78.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 12.18%. The ex-dividend date of this dividend is Friday, December 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M&R Capital Management Inc. boosted its holdings in The Gabelli Convertible and Income Securities Fund by 316.9% during the third quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after purchasing an additional 5,904 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in The Gabelli Convertible and Income Securities Fund during the third quarter worth about $39,000. Shaker Financial Services LLC purchased a new position in The Gabelli Convertible and Income Securities Fund during the third quarter worth about $52,000. Hoylecohen LLC purchased a new position in The Gabelli Convertible and Income Securities Fund during the second quarter worth about $128,000. Finally, World Investment Advisors LLC purchased a new position in The Gabelli Convertible and Income Securities Fund in the third quarter valued at about $405,000. 23.40% of the stock is currently owned by hedge funds and other institutional investors.

The Gabelli Convertible and Income Securities Fund Company Profile

The Gabelli Convertible and Income Securities Fund Inc is a closed-ended balanced mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity and fixed income markets. The fund seeks to invest in stocks of companies operating across diversified sectors.