Gabelli Convertbl and Incm Scrts Fnd (NYSE:GCV) Stock Passes Above 50-Day Moving Average of $5.22

Shares of Gabelli Convertbl and Incm Scrts Fnd Inc (NYSE:GCV) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $5.22 and traded as high as $5.43. Gabelli Convertbl and Incm Scrts Fnd shares last traded at $5.40, with a volume of 11,632 shares.

The company has a 50 day simple moving average of $5.22 and a 200-day simple moving average of $5.16.

A number of hedge funds have recently modified their holdings of GCV. Advisor Group Holdings Inc. bought a new stake in Gabelli Convertbl and Incm Scrts Fnd during the first quarter worth about $3,121,000. Guggenheim Capital LLC lifted its stake in Gabelli Convertbl and Incm Scrts Fnd by 51.1% during the first quarter. Guggenheim Capital LLC now owns 275,601 shares of the investment management company’s stock worth $1,229,000 after purchasing an additional 93,146 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of Gabelli Convertbl and Incm Scrts Fnd in the 4th quarter valued at about $498,000. Mid Atlantic Financial Management Inc. ADV lifted its stake in shares of Gabelli Convertbl and Incm Scrts Fnd by 66.3% in the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 43,900 shares of the investment management company’s stock valued at $196,000 after acquiring an additional 17,500 shares during the last quarter. Finally, PFG Advisors lifted its stake in shares of Gabelli Convertbl and Incm Scrts Fnd by 10.9% in the 1st quarter. PFG Advisors now owns 51,721 shares of the investment management company’s stock valued at $246,000 after acquiring an additional 5,095 shares during the last quarter. 17.70% of the stock is owned by hedge funds and other institutional investors.

About Gabelli Convertbl and Incm Scrts Fnd (NYSE:GCV)

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.

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