The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Update

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Get Free Report) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 10,100 shares, a decline of 81.7% from the March 31st total of 55,300 shares. Based on an average daily volume of 46,500 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company's shares are short sold.

The Gabelli Convertible and Income Securities Fund Stock Performance

GCV traded down $0.03 on Wednesday, hitting $3.49. The company had a trading volume of 40,543 shares, compared to its average volume of 48,898. The Gabelli Convertible and Income Securities Fund has a 52-week low of $3.01 and a 52-week high of $4.34. The stock has a fifty day simple moving average of $3.66 and a 200-day simple moving average of $3.79.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were issued a $0.12 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a yield of 13.75%.

Hedge Funds Weigh In On The Gabelli Convertible and Income Securities Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in GCV. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of The Gabelli Convertible and 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 worth $1,311,000 after acquiring an additional 326,425 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of The Gabelli Convertible and Income Securities Fund during the third quarter valued at approximately $405,000. PFG Advisors increased its stake in shares of The Gabelli Convertible and Income Securities Fund by 4.7% during the fourth quarter. PFG Advisors now owns 82,789 shares of the investment management company's stock valued at $315,000 after purchasing an additional 3,739 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund during the fourth quarter valued at approximately $178,000. Finally, Cetera Investment Advisers bought a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter worth approximately $110,000. Hedge funds and other institutional investors own 23.40% of the company's stock.

About The Gabelli Convertible and 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.