The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV - Get Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 27,900 shares, an increase of 381.0% from the April 30th total of 5,800 shares. Approximately 0.1% of the company's stock are sold short. Based on an average daily volume of 47,400 shares, the days-to-cover ratio is presently 0.6 days.
Hedge Funds Weigh In On The Gabelli Convertible and Income Securities Fund
A number of institutional investors have recently modified their holdings of the business. PFG Advisors boosted its holdings in shares of The Gabelli Convertible and Income Securities Fund by 4.7% during the 4th quarter. PFG Advisors now owns 82,789 shares of the investment management company's stock valued at $315,000 after acquiring an additional 3,739 shares in the last quarter. LPL Financial LLC raised its stake in The Gabelli Convertible and Income Securities Fund by 1.4% during the first quarter. LPL Financial LLC now owns 687,166 shares of the investment management company's stock worth $2,567,000 after buying an additional 9,723 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 1st quarter valued at about $38,000. Arete Wealth Advisors LLC bought a new position in shares of The Gabelli Convertible and Income Securities Fund during the 4th quarter worth approximately $57,000. Finally, Cornerstone Advisors LLC grew its position in shares of The Gabelli Convertible and Income Securities Fund by 769.3% during the 4th quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company's stock worth $73,000 after buying an additional 16,902 shares during the period. Institutional investors and hedge funds own 23.40% of the company's stock.
The Gabelli Convertible and Income Securities Fund Stock Up 0.3%
Shares of GCV stock traded up $0.01 during trading on Friday, reaching $3.70. 21,234 shares of the company's stock were exchanged, compared to its average volume of 50,132. The Gabelli Convertible and Income Securities Fund has a twelve month low of $3.01 and a twelve month high of $4.34. The firm's fifty day moving average price is $3.57 and its 200-day moving average price is $3.77.
The Gabelli Convertible and Income Securities Fund Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.97%. The ex-dividend date of this dividend is Friday, June 13th.
The Gabelli Convertible and Income Securities Fund Company Profile
(
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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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