World Investment Advisors Takes Position in Gabelli Convertible & Income Securities Fund Inc. $GCV

World Investment Advisors purchased a new position in Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 49,165 shares of the investment management company’s stock, valued at approximately $188,000. World Investment Advisors owned approximately 0.25% of Gabelli Convertible & Income Securities Fund at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GCV. PFG Advisors increased its position in shares of Gabelli Convertible & Income Securities Fund by 12.8% in the first quarter. PFG Advisors now owns 93,421 shares of the investment management company’s stock worth $349,000 after acquiring an additional 10,632 shares in the last quarter. Cetera Investment Advisers grew its position in Gabelli Convertible & Income Securities Fund by 112.0% during the 1st quarter. Cetera Investment Advisers now owns 61,250 shares of the investment management company’s stock worth $229,000 after purchasing an additional 32,355 shares in the last quarter. LPL Financial LLC grew its position in Gabelli Convertible & Income Securities Fund by 1.4% during the 1st quarter. LPL Financial LLC now owns 687,166 shares of the investment management company’s stock worth $2,567,000 after purchasing an additional 9,723 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in Gabelli Convertible & Income Securities Fund during the 1st quarter valued at $38,000. Finally, Mallini Complete Financial Planning LLC boosted its position in shares of Gabelli Convertible & Income Securities Fund by 17.9% in the second quarter. Mallini Complete Financial Planning LLC now owns 53,337 shares of the investment management company’s stock worth $204,000 after buying an additional 8,093 shares during the period. Institutional investors and hedge funds own 23.40% of the company’s stock.

Gabelli Convertible & Income Securities Fund Trading Down 1.1%

Shares of GCV stock opened at $4.32 on Thursday. Gabelli Convertible & Income Securities Fund Inc. has a 1-year low of $3.01 and a 1-year high of $4.37. The stock’s fifty day simple moving average is $4.20 and its 200-day simple moving average is $3.93.

Gabelli Convertible & Income Securities Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.12 per share. This is a boost from Gabelli Convertible & Income Securities Fund’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.48 annualized dividend and a yield of 11.1%.

Gabelli Convertible & Income Securities Fund Company 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.