The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 77.4% in May

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCVGet Rating) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 119,200 shares, a growth of 77.4% from the April 30th total of 67,200 shares. Based on an average trading volume of 27,900 shares, the short-interest ratio is currently 4.3 days.

Large investors have recently modified their holdings of the business. Cutler Investment Counsel LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund in the 1st quarter worth $67,000. Wolverine Asset Management LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund in the 3rd quarter worth $77,000. Guggenheim Capital LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund in the 1st quarter worth $145,000. LPL Financial LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter worth $156,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of The Gabelli Convertible and Income Securities Fund by 113.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 23,699 shares of the investment management company’s stock worth $163,000 after buying an additional 12,618 shares in the last quarter.

GCV opened at $5.90 on Friday. The company has a fifty day moving average of $6.06 and a 200 day moving average of $6.26. The Gabelli Convertible and Income Securities Fund has a fifty-two week low of $5.62 and a fifty-two week high of $7.21.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Wednesday, June 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.14%.

The Gabelli Convertible and Income Securities Fund Company Profile (Get Rating)

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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