Insider Selling: The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Insider Sells 3,000 Shares of Stock

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) insider Mario J. Gabelli sold 3,000 shares of The Gabelli Convertible and Income Securities Fund stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $3.73, for a total value of $11,190.00. Following the sale, the insider now directly owns 1,089,000 shares in the company, valued at $4,061,970. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

The Gabelli Convertible and Income Securities Fund Price Performance

Shares of The Gabelli Convertible and Income Securities Fund stock traded up $0.01 during midday trading on Wednesday, hitting $3.75. 30,929 shares of the company were exchanged, compared to its average volume of 48,618. The firm has a 50 day simple moving average of $3.82 and a 200-day simple moving average of $3.70. The Gabelli Convertible and Income Securities Fund Inc. has a 52 week low of $3.15 and a 52 week high of $4.34.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.48 annualized dividend and a yield of 12.80%.

Institutional Investors Weigh In On The Gabelli Convertible and Income Securities Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. M&R Capital Management Inc. grew its holdings in shares of The Gabelli Convertible and Income Securities Fund by 316.9% in the 3rd quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after purchasing an additional 5,904 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in The Gabelli Convertible and Income Securities Fund by 91.7% in the first quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock valued at $90,000 after buying an additional 11,597 shares in the last quarter. Cornerstone Advisors LLC grew its stake in The Gabelli Convertible and Income Securities Fund by 53.0% during the first quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock worth $95,000 after buying an additional 8,897 shares during the last quarter. Hoylecohen LLC acquired a new stake in shares of The Gabelli Convertible and Income Securities Fund during the second quarter worth approximately $128,000. Finally, Virtu Financial LLC bought a new position in shares of The Gabelli Convertible and Income Securities Fund in the fourth quarter valued at approximately $225,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

About The Gabelli Convertible and Income Securities Fund

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.