Short Interest in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Grows By 131.6%

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Get Free Report) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 13,200 shares, a growth of 131.6% from the December 15th total of 5,700 shares. Based on an average daily volume of 52,700 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. World Investment Advisors LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the third quarter worth about $405,000. Shaker Financial Services LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth approximately $52,000. Wolverine Asset Management LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth approximately $39,000. Finally, M&R Capital Management Inc. boosted its holdings in The Gabelli Convertible and Income Securities Fund by 316.9% during the 3rd quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company's stock valued at $29,000 after acquiring an additional 5,904 shares during the period. Hedge funds and other institutional investors own 23.40% of the company's stock.

The Gabelli Convertible and Income Securities Fund Stock Performance

NYSE GCV traded down $0.03 during trading on Tuesday, hitting $3.77. 21,573 shares of the stock traded hands, compared to its average volume of 31,047. The Gabelli Convertible and Income Securities Fund has a 12-month low of $3.35 and a 12-month high of $4.34. The firm has a 50-day simple moving average of $3.90 and a 200-day simple moving average of $3.81.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a $0.12 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.73%.

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.

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