The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 74.9% in June

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 29,200 shares, a growth of 74.9% from the May 31st total of 16,700 shares. Based on an average daily volume of 39,400 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GCV. Shaker Financial Services LLC acquired a new position in The Gabelli Convertible and Income Securities Fund during the 4th quarter valued at approximately $682,000. Virtu Financial LLC purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at $225,000. Wolverine Asset Management LLC boosted its holdings in shares of The Gabelli Convertible and Income Securities Fund by 170.7% in the 4th quarter. Wolverine Asset Management LLC now owns 99,088 shares of the investment management company’s stock valued at $357,000 after acquiring an additional 62,480 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at $183,000. Finally, Arlington Capital Management Inc. purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at $114,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Trading Up 1.1 %

The Gabelli Convertible and Income Securities Fund stock traded up $0.04 during mid-day trading on Friday, reaching $3.66. 55,299 shares of the company traded hands, compared to its average volume of 47,800. The Gabelli Convertible and Income Securities Fund has a fifty-two week low of $3.15 and a fifty-two week high of $4.49. The firm’s fifty day moving average is $3.61 and its two-hundred day moving average is $3.62.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Thursday, June 13th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a yield of 13.11%.

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.