The Gabelli Convertible and Income Securities Fund (NYSE:GCV) Shares Cross Above Fifty Day Moving Average of $3.63

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCVGet Free Report) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $3.63 and traded as high as $3.70. The Gabelli Convertible and Income Securities Fund shares last traded at $3.65, with a volume of 19,954 shares changing hands.

The Gabelli Convertible and Income Securities Fund Trading Down 0.8 %

The stock’s 50 day simple moving average is $3.63 and its two-hundred day simple moving average is $3.63.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 13th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.15%. The ex-dividend date of this dividend was Thursday, June 13th.

Institutional Investors Weigh In On The Gabelli Convertible and Income Securities Fund

A number of institutional investors have recently made changes to their positions in GCV. PFG Advisors boosted its holdings in The Gabelli Convertible and Income Securities Fund by 3.8% in the first quarter. PFG Advisors now owns 87,262 shares of the investment management company’s stock worth $324,000 after purchasing an additional 3,185 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in The Gabelli Convertible and Income Securities Fund by 18.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 41,578 shares of the investment management company’s stock worth $150,000 after purchasing an additional 6,445 shares during the last quarter. Principal Securities Inc. purchased a new stake in The Gabelli Convertible and Income Securities Fund in the fourth quarter worth approximately $27,000. Cornerstone Advisors LLC boosted its holdings in The Gabelli Convertible and Income Securities Fund by 53.0% in the first quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock worth $95,000 after purchasing an additional 8,897 shares during the last quarter. Finally, L.M. Kohn & Company boosted its holdings in The Gabelli Convertible and Income Securities Fund by 47.1% in the fourth quarter. L.M. Kohn & Company now owns 34,875 shares of the investment management company’s stock worth $126,000 after purchasing an additional 11,167 shares during the last quarter. Hedge funds and other institutional investors own 23.40% of the company’s stock.

About The Gabelli Convertible and Income Securities Fund

(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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