Gabelli Convertible & Income Securities Fund (NYSE:GCV) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $4.21 and traded as high as $4.28. Gabelli Convertible & Income Securities Fund shares last traded at $4.25, with a volume of 34,316 shares trading hands.

Gabelli Convertible & Income Securities Fund Stock Performance

The company’s 50 day moving average price is $4.21 and its 200 day moving average price is $4.06.

Gabelli Convertible & Income Securities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 12th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 11.3%. The ex-dividend date of this dividend was Friday, December 12th.

Insiders Place Their Bets

In related news, insider Mario J. Gabelli purchased 50,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $4.29 per share, for a total transaction of $214,500.00. Following the purchase, the insider owned 486,501 shares in the company, valued at $2,087,089.29. The trade was a 11.45% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GCV. Shaker Financial Services LLC acquired a new position in Gabelli Convertible & Income Securities Fund during the second quarter valued at approximately $40,000. Tactive Advisors LLC acquired a new stake in shares of Gabelli Convertible & Income Securities Fund in the second quarter worth $52,000. PMG Family Office LLC bought a new stake in shares of Gabelli Convertible & Income Securities Fund during the 3rd quarter worth $57,000. Fisher Asset Management LLC bought a new stake in shares of Gabelli Convertible & Income Securities Fund during the 3rd quarter worth $59,000. Finally, Cornerstone Advisors LLC grew its stake in Gabelli Convertible & Income Securities Fund by 92.2% in the 2nd quarter. Cornerstone Advisors LLC now owns 17,946 shares of the investment management company’s stock valued at $69,000 after buying an additional 8,609 shares during the last quarter. 23.40% of the stock is owned by institutional investors.

Gabelli Convertible & Income Securities Fund Company Profile

Gabelli Convertible & Income Securities Fund (NYSE: GCV) is a closed-end management investment company that seeks to provide current income and capital appreciation by investing primarily in convertible securities and other fixed-income instruments. The fund’s portfolio typically includes convertible corporate bonds, preferred stocks, and equities of companies that offer the potential for both income generation and price appreciation through embedded option features.

The fund pursues a strategy that combines credit analysis with equity valuation to identify convertible securities that offer attractive yields relative to their risk profiles.