Short Interest in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Grows By 772.9%

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 41,900 shares, an increase of 772.9% from the February 13th total of 4,800 shares. Based on an average daily volume of 43,300 shares, the short-interest ratio is presently 1.0 days. Currently, 0.2% of the company’s shares are sold short.

The Gabelli Convertible and Income Securities Fund Trading Up 0.3 %

Shares of NYSE:GCV opened at $3.82 on Thursday. The company has a 50 day moving average of $3.87 and a 200-day moving average of $3.86. The Gabelli Convertible and Income Securities Fund has a one year low of $3.35 and a one year high of $4.34.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 12.57%. The ex-dividend date is Monday, March 17th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the fourth quarter valued at about $178,000. Cornerstone Advisors LLC raised its position 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 acquiring an additional 16,902 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at approximately $39,000. World Investment Advisors LLC acquired a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at approximately $405,000. Finally, Cetera Investment Advisers bought a new position in The Gabelli Convertible and Income Securities Fund during the 4th quarter worth approximately $110,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Company Profile

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.