Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Sees Large Increase in Short Interest

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 4,555 shares, a growth of 328.5% from the May 31st total of 1,063 shares. Based on an average daily volume of 80,255 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Gabelli Convertible & Income Securities Fund Stock Down 0.6%

Gabelli Convertible & Income Securities Fund stock traded down $0.03 during midday trading on Friday, hitting $4.62. The stock had a trading volume of 55,862 shares, compared to its average volume of 68,580. Gabelli Convertible & Income Securities Fund has a 12 month low of $3.78 and a 12 month high of $4.77. The business has a fifty day moving average price of $4.57 and a 200 day moving average price of $4.43.

Gabelli Convertible & Income Securities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th were given a $0.12 dividend. The ex-dividend date was 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 institutional investors and hedge funds have recently made changes to their positions in GCV. Fisher Asset Management LLC acquired a new position in Gabelli Convertible & Income Securities Fund in the third quarter worth $59,000. PFG Advisors raised its holdings in shares of Gabelli Convertible & Income Securities Fund by 3.1% during the third quarter. PFG Advisors now owns 138,841 shares of the investment management company’s stock worth $573,000 after purchasing an additional 4,230 shares during the period. PMG Family Office LLC acquired a new stake in shares of Gabelli Convertible & Income Securities Fund during the third quarter worth $57,000. Integrity Advisory Solutions LLC bought a new position in shares of Gabelli Convertible & Income Securities Fund in the 4th quarter worth about $48,000. Finally, Citadel Advisors LLC lifted its position 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 worth $127,000 after buying an additional 9,506 shares during the last quarter. 23.40% of the stock is owned by institutional investors and hedge funds.

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.