The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 254.4% in March

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 84,000 shares, a growth of 254.4% from the February 29th total of 23,700 shares. Based on an average daily volume of 60,300 shares, the days-to-cover ratio is currently 1.4 days.

The Gabelli Convertible and Income Securities Fund Trading Up 1.4 %

Shares of GCV stock opened at $3.71 on Thursday. The business’s 50 day moving average is $3.65 and its two-hundred day moving average is $3.60. The Gabelli Convertible and Income Securities Fund has a twelve month low of $3.15 and a twelve month high of $4.58.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 14th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.48 annualized dividend and a dividend yield of 12.94%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Atria Wealth Solutions Inc. purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund in the first quarter valued at approximately $215,000. Guggenheim Capital LLC purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund in the first quarter valued at approximately $145,000. Advisors Asset Management Inc. boosted its stake in shares of The Gabelli Convertible and Income Securities Fund by 197.1% in the first quarter. Advisors Asset Management Inc. now owns 464,414 shares of the investment management company’s stock valued at $2,842,000 after buying an additional 308,105 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of The Gabelli Convertible and Income Securities Fund by 43.9% in the third quarter. Commonwealth Equity Services LLC now owns 39,800 shares of the investment management company’s stock valued at $197,000 after buying an additional 12,136 shares in the last quarter. Finally, UBS Group AG boosted its position in The Gabelli Convertible and Income Securities Fund by 713.7% during the fourth quarter. UBS Group AG now owns 10,456 shares of the investment management company’s stock worth $50,000 after purchasing an additional 9,171 shares in the last quarter. 23.40% of the stock is currently owned by hedge funds and other institutional investors.

About The Gabelli Convertible and Income Securities Fund

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.