The Gabelli Convertible and Income Securities Fund (NYSE:GCV) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.80 and traded as low as $3.78. The Gabelli Convertible and Income Securities Fund shares last traded at $3.79, with a volume of 15,417 shares changing hands.

The Gabelli Convertible and Income Securities Fund Trading Up 0.8 %

The business has a fifty day simple moving average of $3.88 and a 200-day simple moving average of $3.80.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 12.57%. The ex-dividend date of this dividend was Friday, December 13th.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

Several large investors have recently made changes to their positions in the company. M&R Capital Management Inc. raised its position in shares of The Gabelli Convertible and Income Securities Fund by 316.9% during the third quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after purchasing an additional 5,904 shares during the period. Shaker Financial Services LLC bought a new stake in The Gabelli Convertible and Income Securities Fund during the 3rd quarter valued at $52,000. Wolverine Asset Management LLC acquired a new position in The Gabelli Convertible and Income Securities Fund during the third quarter worth $39,000. Finally, World Investment Advisors LLC bought a new position in shares of The Gabelli Convertible and Income Securities Fund in the third quarter valued at $405,000. 23.40% of the stock is currently owned by institutional investors and hedge funds.

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.