The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Get Free Report) saw a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 4,800 shares, an increase of 26.3% from the January 31st total of 3,800 shares. Based on an average daily trading volume, of 49,100 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in GCV. GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in shares of The Gabelli Convertible and Income Securities Fund by 1,857.3% in 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 purchasing an additional 326,425 shares in the last quarter. World Investment Advisors LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at $405,000. Janney Montgomery Scott LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at $178,000. Cetera Investment Advisers bought a new position in shares of The Gabelli Convertible and Income Securities Fund during the 4th quarter worth about $110,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 4th quarter valued at about $83,000. Institutional investors own 23.40% of the company's stock.
The Gabelli Convertible and Income Securities Fund Trading Down 0.2 %
Shares of The Gabelli Convertible and Income Securities Fund stock traded down $0.01 during midday trading on Friday, hitting $3.83. The company had a trading volume of 28,572 shares, compared to its average volume of 49,122. The Gabelli Convertible and Income Securities Fund has a 1-year low of $3.35 and a 1-year high of $4.34. The business's 50 day simple moving average is $3.87 and its two-hundred day simple moving average is $3.86.
The Gabelli Convertible and Income Securities Fund Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be given a $0.12 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 12.52%.
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.
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