Gabelli Convertible & Income Securities Fund (NYSE:GCV) Share Price Passes Above 50-Day Moving Average – What’s Next?

Shares of Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $4.41 and traded as high as $4.56. Gabelli Convertible & Income Securities Fund shares last traded at $4.54, with a volume of 83,814 shares changing hands.

Gabelli Convertible & Income Securities Fund Stock Up 1.3%

The company has a fifty day moving average price of $4.41 and a two-hundred day moving average price of $4.27.

Gabelli Convertible & Income Securities Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 10.6%. The ex-dividend date of this dividend is Tuesday, March 17th.

Hedge Funds Weigh In On Gabelli Convertible & Income Securities Fund

Several hedge funds have recently made changes to their positions in GCV. Cetera Investment Advisers raised its holdings in shares of Gabelli Convertible & Income Securities Fund by 4.1% in the 4th quarter. Cetera Investment Advisers now owns 56,831 shares of the investment management company’s stock worth $236,000 after purchasing an additional 2,252 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in Gabelli Convertible & Income Securities Fund by 59.2% during the fourth quarter. Kestra Advisory Services LLC now owns 57,251 shares of the investment management company’s stock worth $238,000 after buying an additional 21,290 shares in the last quarter. Integrity Advisory Solutions LLC acquired a new position in Gabelli Convertible & Income Securities Fund in the fourth quarter worth approximately $48,000. PFG Advisors grew its position in Gabelli Convertible & Income Securities Fund by 2.9% in the fourth quarter. PFG Advisors now owns 142,900 shares of the investment management company’s stock worth $593,000 after buying an additional 4,059 shares during the last quarter. Finally, PMG Family Office LLC bought a new position in shares of Gabelli Convertible & Income Securities Fund in the third quarter valued at $57,000. Institutional investors and hedge funds 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.