The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Update

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 13,200 shares, a growth of 131.6% from the December 15th total of 5,700 shares. Based on an average trading volume of 52,700 shares, the days-to-cover ratio is presently 0.3 days.

The Gabelli Convertible and Income Securities Fund Stock Performance

GCV stock traded up $0.03 during trading on Thursday, hitting $3.89. The company had a trading volume of 10,734 shares, compared to its average volume of 27,691. The Gabelli Convertible and Income Securities Fund has a 1-year low of $3.35 and a 1-year high of $4.34. The firm has a 50-day moving average price of $3.90 and a 200-day moving average price of $3.81.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were given a $0.12 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 12.34%.

Institutional Investors Weigh In On The Gabelli Convertible and Income Securities Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. M&R Capital Management Inc. boosted its position 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 in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 3rd quarter worth about $39,000. Shaker Financial Services LLC acquired a new stake in The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at about $52,000. Finally, World Investment Advisors LLC acquired a new stake in The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at about $405,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

About The Gabelli Convertible and Income Securities Fund

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.