The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 772.9% in February

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 41,900 shares, an increase of 772.9% from the February 13th total of 4,800 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 43,300 shares, the days-to-cover ratio is presently 1.0 days.

The Gabelli Convertible and Income Securities Fund Stock Performance

Shares of NYSE:GCV traded up $0.03 during midday trading on Friday, reaching $3.83. The company’s stock had a trading volume of 1,360 shares, compared to its average volume of 47,064. The Gabelli Convertible and Income Securities Fund has a fifty-two week low of $3.35 and a fifty-two week high of $4.34. The business’s fifty day simple moving average is $3.87 and its 200-day simple moving average is $3.86.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a $0.12 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.55%.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GCV. Wolverine Asset Management LLC acquired a new stake in The Gabelli Convertible and Income Securities Fund in the third quarter worth about $39,000. World Investment Advisors LLC bought a new position in The Gabelli Convertible and Income Securities Fund during the third quarter worth about $405,000. Janney Montgomery Scott LLC bought a new position in shares of The Gabelli Convertible and Income Securities Fund during the 4th quarter valued at about $178,000. Raymond James Financial Inc. bought a new position in shares of The Gabelli Convertible and Income Securities Fund during the 4th quarter valued at about $83,000. Finally, Cornerstone Advisors LLC lifted its holdings in shares of The Gabelli Convertible and Income Securities Fund by 769.3% during the 4th quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company’s stock valued at $73,000 after purchasing an additional 16,902 shares in the last quarter. 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.