The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 772.9% in February

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Get Free Report) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 41,900 shares, a growth of 772.9% from the February 13th total of 4,800 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 43,300 shares, the days-to-cover ratio is currently 1.0 days.

The Gabelli Convertible and Income Securities Fund Trading Up 0.7 %

GCV stock traded up $0.03 during trading hours on Friday, hitting $3.83. 1,761 shares of the stock traded hands, compared to its average volume of 47,064. The stock has a 50-day simple moving average of $3.87 and a 200 day simple moving average of $3.86. The Gabelli Convertible and Income Securities Fund has a one year low of $3.35 and a one year high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 12.55%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Cetera Investment Advisers bought a new position in The Gabelli Convertible and Income Securities Fund during the fourth quarter valued at about $110,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted 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 valued at $1,311,000 after buying an additional 326,425 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at $83,000. Arete Wealth Advisors LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at $57,000. Finally, PFG Advisors boosted its position in shares of The Gabelli Convertible and Income Securities Fund by 4.7% in the 4th quarter. PFG Advisors now owns 82,789 shares of the investment management company's stock valued at $315,000 after purchasing an additional 3,739 shares during the period. Institutional investors own 23.40% of the company's stock.

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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.