Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Stock Short Interest Report for October

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) was the target of a significant decrease in short interest in the month of October. As of October 30th, there was short interest totaling 4,908 shares, a decrease of 88.5% from the October 15th total of 42,773 shares. Based on an average daily trading volume, of 74,568 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Gabelli Convertible & Income Securities Fund Price Performance

GCV stock traded down $0.04 during midday trading on Thursday, reaching $3.81. The company’s stock had a trading volume of 35,588 shares, compared to its average volume of 56,945. The business’s 50-day simple moving average is $4.15 and its 200-day simple moving average is $4.44. Gabelli Convertible & Income Securities Fund has a 52 week low of $3.50 and a 52 week high of $4.80.

Gabelli Convertible & Income Securities Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 11th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.6%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new stake in Gabelli Convertible & Income Securities Fund in the second quarter valued at about $131,000. Benjamin Edwards Inc. lifted its stake in Gabelli Convertible & Income Securities Fund by 8.5% in the second quarter. Benjamin Edwards Inc. now owns 37,039 shares of the investment management company’s stock valued at $173,000 after buying an additional 2,907 shares during the period. Mallini Complete Financial Planning LLC lifted its stake in Gabelli Convertible & Income Securities Fund by 7.2% in the second quarter. Mallini Complete Financial Planning LLC now owns 59,679 shares of the investment management company’s stock valued at $279,000 after buying an additional 3,996 shares during the period. Finally, Equitable Holdings Inc. acquired a new position in Gabelli Convertible & Income Securities Fund in the second quarter valued at about $393,000. 23.40% of the stock is currently owned by institutional investors.

Gabelli Convertible & Income Securities Fund Company Profile

Gabelli Convertible & Income Securities Fund (NYSE: GCV) is a closed-end investment company managed by Gabelli Funds, LLC. The fund seeks to provide a high level of current income while also pursuing capital appreciation by investing primarily in convertible securities and other income-producing investments. The fund’s portfolio may include convertible bonds, convertible preferred stocks, corporate debt securities, preferred securities and other fixed-income investments. Convertible securities generally provide regular income while offering the potential to participate in the equity performance of the issuing company.