Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Director Thomas H. Dinsmore Acquires 25,000 Shares

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV - Get Free Report) Director Thomas H. Dinsmore acquired 25,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $250,000.00. Following the transaction, the director owned 25,000 shares of the company's stock, valued at $250,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Gabelli Convertible & Income Securities Fund Price Performance

GCV stock traded down $0.01 during trading on Tuesday, reaching $3.82. 49,650 shares of the stock were exchanged, compared to its average volume of 47,766. Gabelli Convertible & Income Securities Fund Inc. has a 1 year low of $3.01 and a 1 year high of $4.34. The business has a 50 day moving average price of $3.67 and a 200-day moving average price of $3.74.

Gabelli Convertible & Income Securities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 13th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 12.57%. The ex-dividend date of this dividend was Friday, June 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new stake in Gabelli Convertible & Income Securities Fund in the first quarter valued at $38,000. Arete Wealth Advisors LLC purchased a new position in Gabelli Convertible & Income Securities Fund in the 4th quarter valued at about $57,000. Cornerstone Advisors LLC grew its position in shares of Gabelli Convertible & Income Securities Fund by 769.3% during the fourth quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company's stock worth $73,000 after buying an additional 16,902 shares in the last quarter. Raymond James Financial Inc. bought a new position in Gabelli Convertible & Income Securities Fund during the fourth quarter worth $83,000. Finally, Cetera Investment Advisers bought a new stake in Gabelli Convertible & Income Securities Fund in the 4th quarter valued at about $110,000. 23.40% of the stock is owned by hedge funds and other institutional investors.

About Gabelli Convertible & 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.