Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 328.5% in June

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 4,555 shares, an increase of 328.5% from the May 31st total of 1,063 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 80,255 shares, the days-to-cover ratio is currently 0.1 days.

Gabelli Convertible & Income Securities Fund Stock Up 0.4%

GCV opened at $4.62 on Monday. Gabelli Convertible & Income Securities Fund has a 1-year low of $3.78 and a 1-year high of $4.77. The company has a fifty day moving average price of $4.57 and a two-hundred day moving average price of $4.43.

Gabelli Convertible & Income Securities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th were paid a $0.12 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.48 annualized dividend and a dividend yield of 10.4%.

Institutional Trading of Gabelli Convertible & Income Securities Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrity Advisory Solutions LLC bought a new position in Gabelli Convertible & Income Securities Fund in the fourth quarter worth approximately $48,000. PMG Family Office LLC acquired a new position in shares of Gabelli Convertible & Income Securities Fund during the third quarter worth approximately $57,000. Fisher Asset Management LLC bought a new position in shares of Gabelli Convertible & Income Securities Fund in the 3rd quarter worth $59,000. Citadel Advisors LLC lifted its holdings in shares of Gabelli Convertible & Income Securities Fund by 44.6% in the 3rd quarter. Citadel Advisors LLC now owns 30,828 shares of the investment management company’s stock worth $127,000 after purchasing an additional 9,506 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in Gabelli Convertible & Income Securities Fund in the 3rd quarter valued at $186,000. 23.40% of the stock is owned by institutional investors.

About Gabelli Convertible & Income Securities Fund

Gabelli Convertible & Income Securities Fund (NYSE: GCV) is a closed-end management investment company that seeks to provide current income and capital appreciation by investing primarily in convertible securities and other fixed-income instruments. The fund’s portfolio typically includes convertible corporate bonds, preferred stocks, and equities of companies that offer the potential for both income generation and price appreciation through embedded option features.

The fund pursues a strategy that combines credit analysis with equity valuation to identify convertible securities that offer attractive yields relative to their risk profiles.