Gabelli Convertible & Income Securities Fund (NYSE:GCV) Stock Passes Above 50-Day Moving Average - Time to Sell?

Shares of Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV - Get Free Report) passed 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 Trading Down 0.3%

The company's fifty 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 declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 13th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.48 dividend on an annualized basis and a yield of 12.47%.

Insiders Place Their Bets

In related news, Director Thomas H. Dinsmore bought 25,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $250,000.00. Following the acquisition, the director owned 25,000 shares in the company, valued at $250,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.78% of the company's stock.

Institutional Investors Weigh In On Gabelli Convertible & Income Securities Fund

Several hedge funds have recently modified their holdings of GCV. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of Gabelli Convertible & Income Securities Fund by 1,857.3% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 344,000 shares of the investment management company's stock valued at $1,311,000 after buying an additional 326,425 shares during the period. Cetera Investment Advisers raised its holdings in shares of Gabelli Convertible & Income Securities Fund by 112.0% during the 1st quarter. Cetera Investment Advisers now owns 61,250 shares of the investment management company's stock valued at $229,000 after buying an additional 32,355 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Gabelli Convertible & Income Securities Fund during the 4th quarter valued at about $83,000. Arete Wealth Advisors LLC purchased a new stake in shares of Gabelli Convertible & Income Securities Fund during the 4th quarter valued at about $57,000. Finally, PFG Advisors raised its holdings in shares of Gabelli Convertible & Income Securities Fund by 12.8% during the 1st quarter. PFG Advisors now owns 93,421 shares of the investment management company's stock valued at $349,000 after buying an additional 10,632 shares during the period. 23.40% of the stock is currently 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.