Gabelli Convertible & Income Securities Fund Inc. (GCV) to Issue Quarterly Dividend of $0.12 on June 23rd

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) announced a quarterly dividend on Wednesday, May 13th. Stockholders of record on Monday, June 15th will be paid a dividend of 0.12 per share by the investment management company on Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date is Monday, June 15th.

Gabelli Convertible & Income Securities Fund Stock Up 2.1%

Shares of GCV stock opened at $4.68 on Friday. The firm’s 50-day moving average is $4.52 and its 200-day moving average is $4.40. Gabelli Convertible & Income Securities Fund has a 52-week low of $3.66 and a 52-week high of $4.77.

Institutional Investors Weigh In On Gabelli Convertible & Income Securities Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers raised its holdings in shares of Gabelli Convertible & Income Securities Fund by 4.1% in 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. PFG Advisors raised its holdings in shares of Gabelli Convertible & Income Securities Fund by 2.9% in the 4th quarter. PFG Advisors now owns 142,900 shares of the investment management company’s stock valued at $593,000 after purchasing an additional 4,059 shares during the period. Citadel Advisors LLC raised its holdings in shares of Gabelli Convertible & Income Securities Fund by 44.6% in the 3rd quarter. Citadel Advisors LLC now owns 30,828 shares of the investment management company’s stock valued at $127,000 after purchasing an additional 9,506 shares during the period. Integrity Advisory Solutions LLC bought a new stake in shares of Gabelli Convertible & Income Securities Fund in the 4th quarter valued at about $48,000. Finally, PMG Family Office LLC bought a new stake in shares of Gabelli Convertible & Income Securities Fund in the 3rd quarter valued at about $57,000. 23.40% of the stock is owned by institutional investors.

About Gabelli Convertible & Income Securities Fund

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.