Short Interest in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Increases By 58.9%

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 66,600 shares, an increase of 58.9% from the February 28th total of 41,900 shares. Based on an average daily trading volume, of 42,300 shares, the short-interest ratio is currently 1.6 days. Currently, 0.3% of the shares of the stock are sold short.

The Gabelli Convertible and Income Securities Fund Stock Down 1.6 %

NYSE:GCV traded down $0.06 during mid-day trading on Friday, reaching $3.73. 25,381 shares of the company were exchanged, compared to its average volume of 47,134. The Gabelli Convertible and Income Securities Fund has a 12 month low of $3.35 and a 12 month high of $4.34. The company has a fifty day moving average of $3.86 and a 200 day moving average of $3.85.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 12.87%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GCV. PFG Advisors boosted its position in The Gabelli Convertible and Income Securities Fund by 4.7% in the 4th quarter. PFG Advisors now owns 82,789 shares of the investment management company’s stock valued at $315,000 after buying an additional 3,739 shares during the last quarter. Arete Wealth Advisors LLC bought a new position in The Gabelli Convertible and Income Securities Fund in the fourth quarter valued at about $57,000. Cornerstone Advisors LLC increased its position in The Gabelli Convertible and Income Securities Fund by 769.3% in the fourth quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company’s stock worth $73,000 after purchasing an additional 16,902 shares during the period. Raymond James Financial Inc. bought a new stake in The Gabelli Convertible and Income Securities Fund during the 4th quarter worth about $83,000. Finally, Cetera Investment Advisers acquired a new position in The Gabelli Convertible and Income Securities Fund during the 4th quarter valued at about $110,000. Institutional investors own 23.40% of the company’s stock.

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.