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

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the recipient of a large increase in short interest during 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. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 43,300 shares, the days-to-cover ratio is presently 1.0 days.

The Gabelli Convertible and Income Securities Fund Trading Up 0.4 %

GCV traded up $0.01 on Wednesday, hitting $3.82. 7,565 shares of the company’s stock were exchanged, compared to its average volume of 48,799. The Gabelli Convertible and Income Securities Fund has a fifty-two week low of $3.35 and a fifty-two week high of $4.34. The firm has a 50-day moving average price of $3.87 and a 200-day moving average price of $3.86.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a yield of 12.55%.

Institutional Investors Weigh In On The Gabelli Convertible and Income Securities Fund

Large investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC acquired a new position in The Gabelli Convertible and Income Securities Fund during the third quarter worth $39,000. Arete Wealth Advisors LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund during the 4th quarter valued at about $57,000. Cornerstone Advisors LLC grew its holdings in shares of The Gabelli Convertible and Income Securities Fund by 769.3% in the fourth 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 during the period. Raymond James Financial Inc. acquired a new stake in The Gabelli Convertible and Income Securities Fund during the fourth quarter worth about $83,000. Finally, Cetera Investment Advisers purchased a new position in The Gabelli Convertible and Income Securities Fund during the fourth quarter worth about $110,000. 23.40% of the stock is currently owned by hedge funds and other institutional investors.

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.