Short Interest in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Decreases By 98.8%

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 500 shares, a decline of 98.8% from the September 15th total of 42,000 shares. Based on an average daily volume of 55,300 shares, the short-interest ratio is currently 0.0 days.

The Gabelli Convertible and Income Securities Fund Price Performance

NYSE:GCV traded up $0.01 during mid-day trading on Friday, hitting $3.73. 93,276 shares of the company’s stock traded hands, compared to its average volume of 48,855. The firm has a 50 day moving average of $3.82 and a two-hundred day moving average of $3.70. The Gabelli Convertible and Income Securities Fund has a 12 month low of $3.15 and a 12 month high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.87%. The ex-dividend date was Monday, September 16th.

Insider Activity at The Gabelli Convertible and Income Securities Fund

In other The Gabelli Convertible and Income Securities Fund news, insider Mario J. Gabelli sold 8,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $4.00, for a total value of $32,000.00. Following the transaction, the insider now directly owns 1,092,000 shares of the company’s stock, valued at $4,368,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 11,093 shares of company stock valued at $43,656. Corporate insiders own 0.78% of the company’s stock.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

Institutional investors have recently made changes to their positions in the business. M&R Capital Management Inc. raised its stake in shares of The Gabelli Convertible and Income Securities Fund by 316.9% in the third quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 5,904 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in The Gabelli Convertible and Income Securities Fund by 91.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock worth $90,000 after buying an additional 11,597 shares during the period. Cornerstone Advisors LLC lifted its holdings in shares of The Gabelli Convertible and Income Securities Fund by 53.0% during the 1st quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock valued at $95,000 after purchasing an additional 8,897 shares in the last quarter. Hoylecohen LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund in the second quarter valued at approximately $128,000. Finally, Virtu Financial LLC acquired a new position in The Gabelli Convertible and Income Securities Fund in the 4th quarter worth $225,000. 23.40% of the stock is currently owned by institutional investors and hedge funds.

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.