The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Insider Mario J. Gabelli Sells 3,000 Shares of Stock

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) insider Mario J. Gabelli sold 3,000 shares of The Gabelli Convertible and Income Securities Fund stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $3.73, for a total value of $11,190.00. Following the completion of the transaction, the insider now owns 1,089,000 shares in the company, valued at approximately $4,061,970. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

The Gabelli Convertible and Income Securities Fund Stock Performance

GCV stock opened at $3.75 on Thursday. The firm’s 50-day moving average price is $3.82 and its two-hundred day moving average price is $3.70. The Gabelli Convertible and Income Securities Fund Inc. has a 12-month low of $3.15 and a 12-month 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 Monday, September 23rd. Stockholders of record on Monday, September 16th were given a $0.12 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.48 annualized dividend and a dividend yield of 12.80%.

Hedge Funds Weigh In On The Gabelli Convertible and Income Securities Fund

Institutional investors have recently bought and sold shares of the stock. PFG Advisors boosted its position in shares of The Gabelli Convertible and Income Securities Fund by 3.8% during the first quarter. PFG Advisors now owns 87,262 shares of the investment management company’s stock valued at $324,000 after purchasing an additional 3,185 shares in the last quarter. Virtu Financial LLC bought a new position in The Gabelli Convertible and Income Securities Fund in the fourth quarter worth $225,000. Hoylecohen LLC purchased a new position in The Gabelli Convertible and Income Securities Fund during the second quarter valued at $128,000. Cornerstone Advisors LLC boosted its holdings in shares of The Gabelli Convertible and Income Securities Fund by 53.0% during the 1st quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock valued at $95,000 after buying an additional 8,897 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of The Gabelli Convertible and Income Securities Fund by 91.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock worth $90,000 after buying an additional 11,597 shares during the period. 23.40% of the stock is owned by institutional investors.

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.