Gabelli Convertible & Income Securities Fund (NYSE:GCV) Share Price Crosses Above Fifty Day Moving Average - Time to Sell?

Key Points

• The share price of Gabelli Convertible & Income Securities Fund (NYSE:GCV) has surpassed its **50-day moving average** of $4.13, trading as high as **$4.32** before closing at $4.29.
• The fund recently **increased its quarterly dividend** to $0.12, up from the previous $0.03, resulting in an annualized dividend of $0.48 and a dividend yield of **11.2%**.
• Several **institutional investors** have increased their positions in the fund, including LPL Financial, PFG Advisors, and Cetera Investment Advisers, indicating growing interest in GCV among hedge funds and institutional investors.

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV - )'s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $4.13 and traded as high as $4.32. Gabelli Convertible & Income Securities Fund shares last traded at $4.29, with a volume of 38,410 shares traded.

Gabelli Convertible & Income Securities Fund Price Performance

The company's 50-day moving average price is $4.13 and its 200 day moving average price is $3.85.

Gabelli Convertible & Income Securities Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 16th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.48 annualized dividend and a dividend yield of 11.2%. This is a positive change from Gabelli Convertible & Income Securities Fund's previous quarterly dividend of $0.03.

Institutional Investors Weigh In On Gabelli Convertible & Income Securities Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC lifted its position in shares of Gabelli Convertible & Income Securities Fund by 1.4% in the 1st quarter. LPL Financial LLC now owns 687,166 shares of the investment management company's stock worth $2,567,000 after purchasing an additional 9,723 shares during the period. Everstar Asset Management LLC lifted its position in shares of Gabelli Convertible & Income Securities Fund by 20.4% in the 2nd quarter. Everstar Asset Management LLC now owns 207,058 shares of the investment management company's stock worth $793,000 after purchasing an additional 35,143 shares during the period. PFG Advisors lifted its position in shares of Gabelli Convertible & Income Securities Fund by 44.1% in the 2nd quarter. PFG Advisors now owns 134,611 shares of the investment management company's stock worth $516,000 after purchasing an additional 41,190 shares during the period. Cetera Investment Advisers lifted its position in shares of Gabelli Convertible & Income Securities Fund by 112.0% in the 1st quarter. Cetera Investment Advisers now owns 61,250 shares of the investment management company's stock worth $229,000 after purchasing an additional 32,355 shares during the period. Finally, Mallini Complete Financial Planning LLC lifted its position in shares of Gabelli Convertible & Income Securities Fund by 17.9% in the 2nd quarter. Mallini Complete Financial Planning LLC now owns 53,337 shares of the investment management company's stock worth $204,000 after purchasing an additional 8,093 shares during the period. 23.40% of the stock is owned by hedge funds and other institutional investors.

Gabelli Convertible & Income Securities Fund Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.