The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Get Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 66,600 shares, an increase of 58.9% from the February 28th total of 41,900 shares. Based on an average daily volume of 42,300 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.3% of the company's shares are short sold.
The Gabelli Convertible and Income Securities Fund Price Performance
GCV traded up $0.02 during trading on Wednesday, hitting $3.75. The company's stock had a trading volume of 22,214 shares, compared to its average volume of 40,104. The Gabelli Convertible and Income Securities Fund has a twelve month low of $3.35 and a twelve month high of $4.34. The stock's fifty day moving average price is $3.85 and its 200-day moving average price is $3.84.
The Gabelli Convertible and Income Securities Fund Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.80%.
Institutional Investors Weigh In On The Gabelli Convertible and Income Securities Fund
A number of large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund during the fourth quarter valued at about $178,000. Cornerstone Advisors LLC raised its stake in The Gabelli Convertible and Income Securities Fund by 769.3% during the 4th 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. PFG Advisors boosted its holdings in The Gabelli Convertible and Income Securities Fund by 4.7% in the fourth quarter. PFG Advisors now owns 82,789 shares of the investment management company's stock worth $315,000 after acquiring an additional 3,739 shares in the last quarter. World Investment Advisors LLC acquired a new stake in The Gabelli Convertible and Income Securities Fund in the third quarter valued at approximately $405,000. Finally, Cetera Investment Advisers bought a new stake in shares of The Gabelli Convertible and Income Securities Fund during the fourth quarter valued at approximately $110,000. 23.40% of the stock is currently owned by institutional investors and hedge funds.
The Gabelli Convertible and Income Securities Fund Company Profile
(
Get 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.
Further Reading
Before you consider The Gabelli Convertible and Income Securities Fund, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Gabelli Convertible and Income Securities Fund wasn't on the list.
While The Gabelli Convertible and Income Securities Fund currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
