Short Interest in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Grows By 131.6%

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 13,200 shares, an increase of 131.6% from the December 15th total of 5,700 shares. Based on an average daily trading volume, of 52,700 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

Several hedge funds and other institutional investors have recently bought and sold shares of GCV. World Investment Advisors LLC bought a new position in shares of The Gabelli Convertible and Income Securities Fund in the 3rd quarter worth $405,000. Shaker Financial Services LLC purchased a new position in The Gabelli Convertible and Income Securities Fund in the third quarter valued at about $52,000. Wolverine Asset Management LLC purchased a new position in The Gabelli Convertible and Income Securities Fund in the third quarter valued at about $39,000. Finally, M&R Capital Management Inc. raised its holdings in 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 worth $29,000 after purchasing an additional 5,904 shares in the last quarter. Institutional investors own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Price Performance

Shares of GCV traded down $0.03 during mid-day trading on Tuesday, hitting $3.77. The company’s stock had a trading volume of 21,573 shares, compared to its average volume of 31,047. The company’s 50-day moving average is $3.90 and its 200-day moving average is $3.81. The Gabelli Convertible and Income Securities Fund has a 52-week low of $3.35 and a 52-week high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 12.73%.

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.