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Mario J. Gabelli Sells 3,100 Shares of Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Stock

Gabelli Convertible & Income Securities Fund logo with Finance background

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV - Get Free Report) insider Mario J. Gabelli sold 3,100 shares of the company's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $3.86, for a total value of $11,966.00. Following the completion of the transaction, the insider directly owned 323,325 shares in the company, valued at $1,248,034.50. This trade represents a 0.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Gabelli Convertible & Income Securities Fund Stock Performance

Gabelli Convertible & Income Securities Fund stock traded up $0.03 during mid-day trading on Thursday, hitting $3.88. The company's stock had a trading volume of 91,782 shares, compared to its average volume of 51,211. The company has a 50 day moving average of $3.75 and a 200-day moving average of $3.74. Gabelli Convertible & Income Securities Fund Inc. has a one year low of $3.01 and a one year high of $4.34.

Gabelli Convertible & Income Securities Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 13th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.39%. The ex-dividend date of this dividend was Friday, June 13th.

Hedge Funds Weigh In On Gabelli Convertible & Income Securities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new position in shares of Gabelli Convertible & Income Securities Fund during the 1st quarter worth $38,000. Arete Wealth Advisors LLC bought a new position in shares of Gabelli Convertible & Income Securities Fund during the 4th quarter worth $57,000. Raymond James Financial Inc. bought a new position in shares of Gabelli Convertible & Income Securities Fund during the 4th quarter worth $83,000. Cetera Investment Advisers bought a new position in shares of Gabelli Convertible & Income Securities Fund during the 4th quarter worth $110,000. Finally, Arlington Capital Management Inc. bought a new position in shares of Gabelli Convertible & Income Securities Fund during the 2nd quarter worth $161,000. Institutional investors own 23.40% of the company's stock.

Gabelli Convertible & Income Securities Fund Company Profile

(Get Free Report)

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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