Short Interest in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Rises By 100.0%

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 7,200 shares, an increase of 100.0% from the November 15th total of 3,600 shares. Based on an average trading volume of 63,100 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. M&R Capital Management Inc. increased its holdings in The Gabelli Convertible and Income Securities Fund by 316.9% during the 3rd quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after acquiring an additional 5,904 shares during the period. Wolverine Asset Management LLC bought a new stake in The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth approximately $39,000. Shaker Financial Services LLC bought a new stake in The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth approximately $52,000. Hoylecohen LLC bought a new stake in The Gabelli Convertible and Income Securities Fund during the 2nd quarter worth approximately $128,000. Finally, World Investment Advisors LLC bought a new stake in The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth approximately $405,000. Institutional investors own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Stock Performance

Shares of NYSE GCV traded up $0.03 during midday trading on Friday, hitting $3.94. The company’s stock had a trading volume of 68,439 shares, compared to its average volume of 50,300. The stock has a fifty day moving average price of $3.85 and a 200 day moving average price of $3.78. The Gabelli Convertible and Income Securities Fund has a one year low of $3.35 and a one year high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 12.18%. The ex-dividend date is Friday, December 13th.

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.