Gabelli Convertible & Income Securities Fund (NYSE:GCV) Share Price Crosses Above 50 Day Moving Average - Here's What Happened

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV - Get Free Report) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.72 and traded as high as $3.87. Gabelli Convertible & Income Securities Fund shares last traded at $3.86, with a volume of 62,895 shares trading hands.

Gabelli Convertible & Income Securities Fund Stock Performance

The company's 50 day moving average is $3.73 and its two-hundred day moving average is $3.74.

Gabelli Convertible & Income Securities Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 13th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.47%.

Insider Activity at Gabelli Convertible & Income Securities Fund

In other Gabelli Convertible & Income Securities Fund news, Director Thomas H. Dinsmore acquired 25,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was acquired at an average cost of $10.00 per share, with a total value of $250,000.00. Following the purchase, the director directly owned 25,000 shares of the company's stock, valued at approximately $250,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Gabelli Convertible & Income Securities Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mallini Complete Financial Planning LLC lifted its holdings 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 acquiring an additional 8,093 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Gabelli Convertible & Income Securities Fund in the 1st quarter worth about $38,000. LPL Financial LLC lifted its holdings 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 acquiring an additional 9,723 shares during the last quarter. Cetera Investment Advisers lifted its holdings 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 acquiring an additional 32,355 shares during the last quarter. Finally, PFG Advisors lifted its holdings in shares of Gabelli Convertible & Income Securities Fund by 12.8% in the 1st quarter. PFG Advisors now owns 93,421 shares of the investment management company's stock worth $349,000 after acquiring an additional 10,632 shares during the last quarter. 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.