The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Sees Significant Increase in Short Interest

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 13,200 shares, a growth of 131.6% from the December 15th total of 5,700 shares. Based on an average trading volume of 52,700 shares, the days-to-cover ratio is currently 0.3 days.

The Gabelli Convertible and Income Securities Fund Stock Up 0.8 %

NYSE:GCV traded up $0.03 during midday trading on Thursday, hitting $3.89. The stock had a trading volume of 10,734 shares, compared to its average volume of 27,691. The stock has a 50-day moving average of $3.90 and a 200 day moving average of $3.81. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were given a $0.12 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.34%.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. M&R Capital Management Inc. boosted its position in The Gabelli Convertible and Income Securities Fund by 316.9% during the third quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after purchasing an additional 5,904 shares in the last quarter. Shaker Financial Services LLC acquired a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth approximately $52,000. Wolverine Asset Management LLC acquired a new stake in The Gabelli Convertible and Income Securities Fund during the third quarter worth $39,000. Finally, World Investment Advisors LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth $405,000. 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.