The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Down 53.0% in May

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Get Free Report) was the target of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 13,100 shares, a decrease of 53.0% from the May 15th total of 27,900 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 50,400 shares, the short-interest ratio is currently 0.3 days.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of GCV. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in 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 buying an additional 326,425 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in The Gabelli Convertible and Income Securities Fund in the 4th quarter worth approximately $178,000. Cetera Investment Advisers boosted its stake in shares of The Gabelli Convertible and Income Securities Fund by 112.0% in the 1st quarter. Cetera Investment Advisers now owns 61,250 shares of the investment management company's stock valued at $229,000 after purchasing an additional 32,355 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at $83,000. Finally, Cornerstone Advisors LLC boosted its stake in shares of The Gabelli Convertible and Income Securities Fund by 769.3% in the 4th quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company's stock valued at $73,000 after purchasing an additional 16,902 shares in the last quarter. Hedge funds and other institutional investors own 23.40% of the company's stock.

The Gabelli Convertible and Income Securities Fund Stock Performance

The Gabelli Convertible and Income Securities Fund stock traded down $0.13 during midday trading on Friday, reaching $3.72. 78,315 shares of the stock were exchanged, compared to its average volume of 50,667. The company's fifty day moving average is $3.60 and its 200-day moving average is $3.76. The Gabelli Convertible and Income Securities Fund has a 52 week low of $3.01 and a 52 week high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 12.92%. The ex-dividend date is Friday, June 13th.

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.

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