Bank of America Corp DE Sells 3,593 Shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

Bank of America Corp DE reduced its stake in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,222 shares of the investment management company’s stock after selling 3,593 shares during the period. Bank of America Corp DE owned approximately 0.19% of The Gabelli Convertible and Income Securities Fund worth $138,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GABELLI & Co INVESTMENT ADVISERS INC. raised its position 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 purchasing an additional 326,425 shares in the last quarter. PFG Advisors increased its holdings in shares of The Gabelli Convertible and Income Securities Fund by 4.7% in the fourth quarter. PFG Advisors now owns 82,789 shares of the investment management company’s stock worth $315,000 after buying an additional 3,739 shares during the period. Raymond James Financial Inc. purchased a new position in shares of The Gabelli Convertible and Income Securities Fund in the fourth quarter worth about $83,000. Cornerstone Advisors LLC increased its holdings in shares of The Gabelli Convertible and Income Securities Fund by 769.3% in the fourth quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company’s stock worth $73,000 after buying an additional 16,902 shares during the period. Finally, Arete Wealth Advisors LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund in the fourth quarter worth about $57,000. 23.40% of the stock is owned by institutional investors.

The Gabelli Convertible and Income Securities Fund Trading Up 0.3%

GCV opened at $3.73 on Tuesday. The business’s 50-day moving average price is $3.60 and its 200-day moving average price is $3.76. The Gabelli Convertible and Income Securities Fund Inc. has a 12 month low of $3.01 and a 12 month high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 13th will be issued a $0.12 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.48 annualized dividend and a dividend yield of 12.87%.

The Gabelli Convertible and Income Securities Fund Profile

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.