The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Sees Significant Increase in Short Interest

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

The Gabelli Convertible and Income Securities Fund Trading Down 0.8 %

Shares of NYSE GCV traded down $0.03 during trading on Friday, reaching $3.89. The company had a trading volume of 40,942 shares, compared to its average volume of 34,706. The company’s fifty day moving average price is $3.90 and its 200-day moving average price is $3.83. The Gabelli Convertible and Income Securities Fund has a 12 month low of $3.35 and a 12 month high of $4.34.

The Gabelli Convertible and Income Securities Fund Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. World Investment Advisors LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the third quarter worth approximately $405,000. Janney Montgomery Scott LLC acquired a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at about $178,000. Shaker Financial Services LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at about $52,000. Wolverine Asset Management LLC acquired a new position in The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth approximately $39,000. Finally, M&R Capital Management Inc. boosted its holdings in The Gabelli Convertible and Income Securities Fund by 316.9% in the third quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after acquiring an additional 5,904 shares in the last quarter. 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.