The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Update

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCVGet Rating) was the target of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 80,700 shares, a decline of 32.3% from the May 15th total of 119,200 shares. Based on an average trading volume of 26,900 shares, the short-interest ratio is presently 3.0 days.

The Gabelli Convertible and Income Securities Fund stock traded up $0.09 during midday trading on Tuesday, reaching $5.61. The stock had a trading volume of 100 shares, compared to its average volume of 23,164. The Gabelli Convertible and Income Securities Fund has a 12 month low of $5.50 and a 12 month high of $7.21. The firm’s 50-day moving average price is $6.00 and its 200 day moving average price is $6.20.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Wednesday, June 15th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 8.56%. The ex-dividend date is Tuesday, June 14th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC increased its position in shares of The Gabelli Convertible and Income Securities Fund by 12.4% during the fourth quarter. Private Advisor Group LLC now owns 27,200 shares of the investment management company’s stock valued at $187,000 after buying an additional 3,000 shares during the period. Commonwealth Equity Services LLC increased its position in shares of The Gabelli Convertible and Income Securities Fund by 16.4% during the first quarter. Commonwealth Equity Services LLC now owns 27,578 shares of the investment management company’s stock valued at $168,000 after buying an additional 3,879 shares during the period. Claraphi Advisory Network LLC increased its position in shares of The Gabelli Convertible and Income Securities Fund by 15.1% during the third quarter. Claraphi Advisory Network LLC now owns 43,275 shares of the investment management company’s stock valued at $263,000 after buying an additional 5,675 shares during the period. PFG Advisors increased its position in shares of The Gabelli Convertible and Income Securities Fund by 12.3% during the first quarter. PFG Advisors now owns 75,629 shares of the investment management company’s stock valued at $463,000 after buying an additional 8,293 shares during the period. Finally, Equitable Holdings Inc. grew its holdings in shares of The Gabelli Convertible and Income Securities Fund by 15.0% during the fourth quarter. Equitable Holdings Inc. now owns 76,500 shares of the investment management company’s stock worth $526,000 after purchasing an additional 10,000 shares in the last quarter.

About The Gabelli Convertible and Income Securities Fund (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.

Featured Stories

Receive News & Ratings for The Gabelli Convertible and Income Securities Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Gabelli Convertible and Income Securities Fund and related companies with MarketBeat.com's FREE daily email newsletter.