The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 772.9% in February

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 41,900 shares, an increase of 772.9% from the February 13th total of 4,800 shares. Based on an average daily volume of 43,300 shares, the short-interest ratio is currently 1.0 days. Approximately 0.2% of the company’s stock are sold short.

The Gabelli Convertible and Income Securities Fund Stock Performance

Shares of The Gabelli Convertible and Income Securities Fund stock opened at $3.82 on Thursday. The stock’s 50-day moving average is $3.87 and its 200-day moving average is $3.86. The Gabelli Convertible and Income Securities Fund has a one year low of $3.35 and a one year high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 12.57%. The ex-dividend date of this dividend is Monday, March 17th.

Hedge Funds Weigh In On The Gabelli Convertible and Income Securities Fund

Several hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers bought a new stake in shares of The Gabelli Convertible and Income Securities Fund in the fourth quarter worth $110,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in shares of The Gabelli Convertible and Income Securities Fund by 1,857.3% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 344,000 shares of the investment management company’s stock worth $1,311,000 after buying an additional 326,425 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of The Gabelli Convertible and Income Securities Fund in the fourth quarter valued at about $83,000. Arete Wealth Advisors LLC acquired a new stake in shares of The Gabelli Convertible and Income Securities Fund in the fourth quarter valued at about $57,000. Finally, PFG Advisors boosted its position in The Gabelli Convertible and Income Securities Fund by 4.7% during the fourth quarter. PFG Advisors now owns 82,789 shares of the investment management company’s stock valued at $315,000 after purchasing an additional 3,739 shares during the last quarter. 23.40% of the stock is owned by institutional investors.

The Gabelli Convertible and 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.