Gabelli Convertible & Income Securities Fund (NYSE:GCV) Shares Cross Above 50-Day Moving Average – Time to Sell?

Shares of Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $4.20 and traded as high as $4.28. Gabelli Convertible & Income Securities Fund shares last traded at $4.24, with a volume of 128,517 shares.

Gabelli Convertible & Income Securities Fund Stock Up 2.2%

The firm has a 50 day moving average of $4.20 and a 200 day moving average of $4.08.

Gabelli Convertible & Income Securities Fund Announces Dividend

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

Insiders Place Their Bets

In other news, insider Mario J. Gabelli acquired 50,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $214,500.00. Following the purchase, the insider owned 486,501 shares of the company’s stock, valued at approximately $2,087,089.29. The trade was a 11.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On Gabelli Convertible & Income Securities Fund

Large investors have recently modified their holdings of the business. Shaker Financial Services LLC bought a new stake in shares of Gabelli Convertible & Income Securities Fund in the second quarter valued at approximately $40,000. Tactive Advisors LLC purchased a new position in Gabelli Convertible & Income Securities Fund in the 2nd quarter valued at approximately $52,000. PMG Family Office LLC bought a new stake in Gabelli Convertible & Income Securities Fund during the 3rd quarter valued at $57,000. Fisher Asset Management LLC purchased a new stake in shares of Gabelli Convertible & Income Securities Fund during the third quarter worth $59,000. Finally, Cornerstone Advisors LLC boosted its holdings in shares of Gabelli Convertible & Income Securities Fund by 92.2% in the second quarter. Cornerstone Advisors LLC now owns 17,946 shares of the investment management company’s stock worth $69,000 after acquiring an additional 8,609 shares during the period. Hedge funds and other institutional investors own 23.40% of the company’s stock.

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.