Gabelli Convertible & Income Securities Fund (NYSE:GCV) Stock Price Breaks Below Two Hundred Day Moving Average – What’s Next?

Shares of Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.53 and traded as low as $4.06. Gabelli Convertible & Income Securities Fund shares last traded at $4.11, with a volume of 46,659 shares.

Gabelli Convertible & Income Securities Fund Stock Up 0.5%

The stock’s fifty day moving average price is $4.52 and its 200 day moving average price is $4.53.

Gabelli Convertible & Income Securities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date of this dividend was Wednesday, September 16th.

Institutional Investors Weigh In On Gabelli Convertible & Income Securities Fund

Several hedge funds have recently added to or reduced their stakes in GCV. Equitable Holdings Inc. bought a new position in shares of Gabelli Convertible & Income Securities Fund during the 2nd quarter valued at about $393,000. Mallini Complete Financial Planning LLC lifted its position in Gabelli Convertible & Income Securities Fund by 7.2% in the 2nd quarter. Mallini Complete Financial Planning LLC now owns 59,679 shares of the investment management company’s stock worth $279,000 after buying an additional 3,996 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Gabelli Convertible & Income Securities Fund by 8.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 37,039 shares of the investment management company’s stock worth $173,000 after buying an additional 2,907 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in Gabelli Convertible & Income Securities Fund in the second quarter worth approximately $131,000. Institutional investors own 23.40% of the company’s stock.

Gabelli Convertible & Income Securities Fund Company Profile

Gabelli Convertible & Income Securities Fund is a publicly traded closed-end investment company listed on the New York Stock Exchange under the symbol GCV. The fund is managed by Gabelli Funds, LLC, an affiliate of GAMCO Investors, Inc

The fund seeks to provide investors with a combination of current income and capital appreciation. It invests primarily in convertible securities, which may offer income and the potential to participate in equity-market gains, along with other income-producing securities such as corporate bonds, preferred stocks and common stocks.

GCV may invest in securities issued by companies in a range of industries and geographic markets, including the United States and international markets.