The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 58.9% in March

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 66,600 shares, a growth of 58.9% from the February 28th total of 41,900 shares. Based on an average daily volume of 42,300 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.3% of the company’s shares are short sold.

The Gabelli Convertible and Income Securities Fund Stock Performance

Shares of GCV stock traded down $0.06 on Friday, reaching $3.73. The company had a trading volume of 25,381 shares, compared to its average volume of 47,134. The company has a 50-day moving average of $3.86 and a 200-day moving average of $3.85. The Gabelli Convertible and Income Securities Fund has a 12 month low of $3.35 and a 12 month high of $4.34.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given a dividend of $0.12 per share. The ex-dividend date was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.87%.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

Large investors have recently made changes to their positions in the company. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in The Gabelli Convertible and Income Securities Fund by 1,857.3% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 344,000 shares of the investment management company’s stock valued at $1,311,000 after acquiring an additional 326,425 shares during the period. World Investment Advisors LLC bought a new position in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter valued at about $405,000. Janney Montgomery Scott LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at approximately $178,000. Cetera Investment Advisers bought a new stake in The Gabelli Convertible and Income Securities Fund during the 4th quarter worth approximately $110,000. Finally, Raymond James Financial Inc. acquired a new stake in The Gabelli Convertible and Income Securities Fund during the 4th quarter worth approximately $83,000. Institutional investors own 23.40% of the company’s stock.

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.