Short Interest in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Drops By 81.7%

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Get Free Report) saw a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 10,100 shares, a decrease of 81.7% from the March 31st total of 55,300 shares. Based on an average daily volume of 46,500 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

The Gabelli Convertible and Income Securities Fund Trading Up 1.2 %

GCV traded up $0.04 on Friday, reaching $3.51. The company had a trading volume of 44,064 shares, compared to its average volume of 48,642. The Gabelli Convertible and Income Securities Fund has a 52-week low of $3.01 and a 52-week high of $4.34. The business has a 50 day simple moving average of $3.68 and a 200 day simple moving average of $3.80.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.68%. The ex-dividend date was Monday, March 17th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in The Gabelli Convertible and Income Securities Fund by 1,857.3% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 344,000 shares of the investment management company's stock worth $1,311,000 after purchasing an additional 326,425 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter valued at about $405,000. Janney Montgomery Scott LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the 4th quarter worth approximately $178,000. Cetera Investment Advisers purchased a new stake in The Gabelli Convertible and Income Securities Fund in the fourth quarter worth approximately $110,000. Finally, Raymond James Financial Inc. purchased a new stake in The Gabelli Convertible and Income Securities Fund in the fourth quarter worth approximately $83,000. 23.40% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.