Gabelli Convertible & Income Securities Fund (NYSE:GCV) Stock Passes Above Fifty Day Moving Average - Should You Sell?

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV - Get Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-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 Stock Up 0.4%

The business has a fifty day moving average of $3.76 and a 200-day moving average of $3.74.

Gabelli Convertible & Income Securities Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Friday, June 13th were issued 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 12.32%.

Insiders Place Their Bets

In other Gabelli Convertible & Income Securities Fund news, Director Thomas H. Dinsmore purchased 25,000 shares of Gabelli Convertible & Income Securities Fund stock in a transaction dated Thursday, June 26th. The shares were acquired at an average cost of $10.00 per share, with a total value of $250,000.00. Following the completion of the transaction, the director owned 25,000 shares in the company, valued at approximately $250,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gabelli Convertible & Income Securities Fund

A number of large investors have recently made changes to their positions in GCV. Cetera Investment Advisers acquired a new position in shares of Gabelli Convertible & Income Securities Fund in the 4th quarter valued at $110,000. Raymond James Financial Inc. acquired a new position in shares of Gabelli Convertible & Income Securities Fund in the 4th quarter valued at $83,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Gabelli Convertible & Income Securities Fund by 1,857.3% in 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 acquiring an additional 326,425 shares during the period. Arete Wealth Advisors LLC acquired a new stake in Gabelli Convertible & Income Securities Fund during the 4th quarter worth about $57,000. Finally, Arlington Capital Management Inc. acquired a new stake in Gabelli Convertible & Income Securities Fund during the 2nd quarter worth about $161,000. 23.40% of the stock is 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.

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