GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Free Report) by 1,857.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 344,000 shares of the investment management company's stock after acquiring an additional 326,425 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. owned 1.78% of The Gabelli Convertible and Income Securities Fund worth $1,311,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in GCV. World Investment Advisors LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter valued at $405,000. Janney Montgomery Scott LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund in the 4th quarter worth about $178,000. Raymond James Financial Inc. purchased a new position in shares of The Gabelli Convertible and Income Securities Fund during the fourth quarter valued at approximately $83,000. Cornerstone Advisors LLC raised its holdings in shares of The Gabelli Convertible and Income Securities Fund by 769.3% in the fourth quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company's stock worth $73,000 after buying an additional 16,902 shares during the period. Finally, Arete Wealth Advisors LLC purchased a new position in The Gabelli Convertible and Income Securities Fund during the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 23.40% of the company's stock.
The Gabelli Convertible and Income Securities Fund Stock Performance
The Gabelli Convertible and Income Securities Fund stock traded down $0.05 during mid-day trading on Friday, hitting $3.36. The company's stock had a trading volume of 96,858 shares, compared to its average volume of 48,224. The Gabelli Convertible and Income Securities Fund Inc. has a one year low of $3.01 and a one year high of $4.34. The company has a 50 day moving average of $3.73 and a 200-day moving average of $3.81.
The Gabelli Convertible and Income Securities Fund Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a yield of 14.29%.
The Gabelli Convertible and Income Securities Fund Company Profile
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Free Report)
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.
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