The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.70 and traded as low as $3.67. The Gabelli Convertible and Income Securities Fund shares last traded at $3.71, with a volume of 38,055 shares traded.
The Gabelli Convertible and Income Securities Fund Stock Performance
The stock's 50-day moving average price is $3.82 and its two-hundred day moving average price is $3.70.
The Gabelli Convertible and Income Securities Fund Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were given a dividend of $0.12 per share. The ex-dividend date was Monday, September 16th. This represents a $0.48 annualized dividend and a dividend yield of 12.94%.
Insider Activity
In related news, insider Mario J. Gabelli sold 8,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $4.00, for a total transaction of $32,000.00. Following the sale, the insider now owns 1,092,000 shares of the company's stock, valued at approximately $4,368,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 12,669 shares of company stock worth $49,549. 0.78% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On The Gabelli Convertible and Income Securities Fund
A number of institutional investors and hedge funds have recently modified their holdings of the company. M&R Capital Management Inc. lifted 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 valued at $29,000 after purchasing an additional 5,904 shares during the last quarter. Shaker Financial Services LLC purchased a new position in The Gabelli Convertible and Income Securities Fund in the third quarter worth $52,000. Janney Montgomery Scott LLC grew its position in The Gabelli Convertible and Income Securities Fund by 91.7% in the first quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company's stock worth $90,000 after acquiring an additional 11,597 shares in the last quarter. Cornerstone Advisors LLC increased its stake in The Gabelli Convertible and Income Securities Fund by 53.0% in the first quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company's stock valued at $95,000 after acquiring an additional 8,897 shares during the last quarter. Finally, Hoylecohen LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund during the second quarter valued at about $128,000. 23.40% of the stock is owned by hedge funds and other institutional investors.
About The Gabelli Convertible and Income Securities Fund
(
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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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