Short Interest in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Rises By 26.3%

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the recipient of a significant growth in short interest in February. As of February 15th, there was short interest totalling 4,800 shares, a growth of 26.3% from the January 31st total of 3,800 shares. Based on an average trading volume of 49,100 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

Several large investors have recently modified their holdings of the business. Wolverine Asset Management LLC acquired a new position in The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at $39,000. Shaker Financial Services LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth about $52,000. Arete Wealth Advisors LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund in the fourth quarter valued at approximately $57,000. Cornerstone Advisors LLC boosted its holdings in shares of The Gabelli Convertible and Income Securities Fund by 769.3% in the 4th quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company’s stock valued at $73,000 after purchasing an additional 16,902 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 4th quarter worth $83,000. 23.40% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Convertible and Income Securities Fund Stock Performance

Shares of NYSE:GCV traded down $0.01 on Friday, reaching $3.83. 3,096 shares of the company were exchanged, compared to its average volume of 48,926. The company has a 50-day moving average of $3.87 and a 200-day moving average of $3.86. The Gabelli Convertible and Income Securities Fund has a 1-year low of $3.35 and a 1-year high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 12.53%.

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.