Gabelli Convertible & Income Securities Fund (NYSE:GCV) Stock Crosses Above Fifty Day Moving Average - What's Next?

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV - Get Free Report)'s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.76 and traded as high as $3.90. Gabelli Convertible & Income Securities Fund shares last traded at $3.90, with a volume of 108,190 shares trading hands.

Gabelli Convertible & Income Securities Fund Price Performance

The company's 50 day simple moving average is $3.77 and its two-hundred day simple moving average is $3.74.

Gabelli Convertible & Income Securities Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 13th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, June 13th. This represents a $0.48 annualized dividend and a dividend yield of 12.32%.

Insider Activity at Gabelli Convertible & Income Securities Fund

In other Gabelli Convertible & Income Securities Fund news, Director Thomas H. Dinsmore purchased 25,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were bought at an average price of $10.00 per share, for a total transaction of $250,000.00. Following the purchase, the director directly owned 25,000 shares in the company, valued at $250,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. bought a new position in shares of Gabelli Convertible & Income Securities Fund during the 1st quarter worth about $38,000. Arete Wealth Advisors LLC acquired a new stake in shares of Gabelli Convertible & Income Securities Fund during the 4th quarter worth about $57,000. Raymond James Financial Inc. acquired a new stake in shares of Gabelli Convertible & Income Securities Fund during the 4th quarter worth about $83,000. Cetera Investment Advisers acquired a new stake in shares of Gabelli Convertible & Income Securities Fund during the 4th quarter worth about $110,000. Finally, Arlington Capital Management Inc. acquired a new stake in shares of Gabelli Convertible & Income Securities Fund during the 2nd quarter worth about $161,000. 23.40% of the stock is currently owned by institutional investors and hedge funds.

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.