Cornerstone Advisors LLC Increases Stock Position in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

Cornerstone Advisors LLC boosted its holdings in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) by 769.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,099 shares of the investment management company’s stock after purchasing an additional 16,902 shares during the quarter. Cornerstone Advisors LLC’s holdings in The Gabelli Convertible and Income Securities Fund were worth $73,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GCV. Wolverine Asset Management LLC purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund in the third quarter valued at about $39,000. Raymond James Financial Inc. purchased a new position in shares of The Gabelli Convertible and Income Securities Fund during the fourth quarter worth about $83,000. Janney Montgomery Scott LLC acquired a new position in The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at about $178,000. Finally, World Investment Advisors LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund during the 3rd quarter valued at approximately $405,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Trading Down 0.3 %

Shares of GCV stock opened at $3.83 on Wednesday. The business’s 50 day moving average is $3.87 and its two-hundred day moving average is $3.86. The Gabelli Convertible and Income Securities Fund Inc. has a twelve month low of $3.35 and a twelve month high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be given a $0.12 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a yield of 12.54%.

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.