The Gabelli Convertible and Income Securities Fund (NYSE:GCV) Share Price Passes Below 200 Day Moving Average – What’s Next?

Shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.70 and traded as low as $3.67. The Gabelli Convertible and Income Securities Fund shares last traded at $3.71, with a volume of 38,055 shares traded.

The Gabelli Convertible and Income Securities Fund Trading Up 1.4 %

The company has a fifty day moving average price of $3.82 and a two-hundred day moving average price of $3.70.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 12.94%. The ex-dividend date of this dividend was Monday, September 16th.

Insider Activity

In related news, insider Mario J. Gabelli sold 8,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $4.00, for a total value of $32,000.00. Following the sale, the insider now owns 1,092,000 shares of the company’s stock, valued at $4,368,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 12,669 shares of company stock worth $49,549. 0.78% of the stock is currently owned by corporate insiders.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

Institutional investors have recently bought and sold shares of the stock. Shaker Financial Services LLC bought a new position in shares of The Gabelli Convertible and Income Securities Fund during the third quarter valued at $52,000. M&R Capital Management Inc. lifted its holdings in The Gabelli Convertible and Income Securities Fund by 316.9% during the 3rd quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 5,904 shares during the last quarter. Hoylecohen LLC acquired a new position in The Gabelli Convertible and Income Securities Fund in the second quarter valued at about $128,000. 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. Finally, PFG Advisors grew its stake in The Gabelli Convertible and Income Securities Fund by 3.8% during the first quarter. PFG Advisors now owns 87,262 shares of the investment management company’s stock worth $324,000 after buying an additional 3,185 shares during the last quarter. 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.