The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Down 17.0% in March

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Get Free Report) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 55,300 shares, a drop of 17.0% from the March 15th total of 66,600 shares. Based on an average daily volume of 44,400 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers bought a new stake in The Gabelli Convertible and Income Securities Fund in the 4th quarter worth approximately $110,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in shares of The Gabelli Convertible and Income Securities Fund by 1,857.3% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 344,000 shares of the investment management company's stock worth $1,311,000 after buying an additional 326,425 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund during the fourth quarter valued at approximately $83,000. Arete Wealth Advisors LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund in the fourth quarter worth about $57,000. Finally, PFG Advisors boosted its position 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. Institutional investors own 23.40% of the company's stock.

The Gabelli Convertible and Income Securities Fund Stock Up 0.1 %

NYSE:GCV traded up $0.01 during trading hours on Friday, hitting $3.48. The stock had a trading volume of 27,788 shares, compared to its average volume of 44,069. The Gabelli Convertible and Income Securities Fund has a one year low of $3.01 and a one year high of $4.34. The company has a 50 day simple moving average of $3.69 and a two-hundred day simple moving average of $3.80.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.81%. The ex-dividend date of this dividend was Monday, March 17th.

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.