Gabelli Convertible & Income Securities Fund (NYSE:GCV) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Shares of Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $4.49 and traded as high as $4.76. Gabelli Convertible & Income Securities Fund shares last traded at $4.61, with a volume of 122,232 shares trading hands.

Gabelli Convertible & Income Securities Fund Stock Performance

The company’s 50-day simple moving average is $4.49 and its 200 day simple moving average is $4.38.

Gabelli Convertible & Income Securities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.48 annualized dividend and a dividend yield of 10.4%.

Institutional Investors Weigh In On Gabelli Convertible & Income Securities Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PFG Advisors raised its stake in shares of Gabelli Convertible & Income Securities Fund by 2.9% in the fourth quarter. PFG Advisors now owns 142,900 shares of the investment management company’s stock valued at $593,000 after acquiring an additional 4,059 shares during the period. Kestra Advisory Services LLC increased its position in Gabelli Convertible & Income Securities Fund by 59.2% during the 4th quarter. Kestra Advisory Services LLC now owns 57,251 shares of the investment management company’s stock valued at $238,000 after purchasing an additional 21,290 shares during the period. Cetera Investment Advisers increased its position in Gabelli Convertible & Income Securities Fund by 4.1% during the 4th quarter. Cetera Investment Advisers now owns 56,831 shares of the investment management company’s stock valued at $236,000 after purchasing an additional 2,252 shares during the period. Susquehanna International Group LLP purchased a new position in Gabelli Convertible & Income Securities Fund during the 3rd quarter valued at about $186,000. Finally, Cornerstone Advisors LLC boosted its holdings in shares of Gabelli Convertible & Income Securities Fund by 77.9% in the 3rd quarter. Cornerstone Advisors LLC now owns 31,931 shares of the investment management company’s stock valued at $132,000 after buying an additional 13,985 shares in the last quarter. Hedge funds and other institutional investors own 23.40% of the company’s stock.

Gabelli Convertible & Income Securities Fund Company Profile

Gabelli Convertible & Income Securities Fund (NYSE: GCV) is a closed-end management investment company that seeks to provide current income and capital appreciation by investing primarily in convertible securities and other fixed-income instruments. The fund’s portfolio typically includes convertible corporate bonds, preferred stocks, and equities of companies that offer the potential for both income generation and price appreciation through embedded option features.

The fund pursues a strategy that combines credit analysis with equity valuation to identify convertible securities that offer attractive yields relative to their risk profiles.