Gabelli Convertible & Income Securities Fund (NYSE:GCV) Shares Pass Above 200-Day Moving Average – What’s Next?

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.35 and traded as high as $4.59. Gabelli Convertible & Income Securities Fund shares last traded at $4.57, with a volume of 54,954 shares changing hands.

Gabelli Convertible & Income Securities Fund Trading Up 0.2%

The stock has a 50-day simple moving average of $4.43 and a two-hundred day simple moving average of $4.35.

Gabelli Convertible & Income Securities Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 10.5%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cetera Investment Advisers raised its position in shares of Gabelli Convertible & Income Securities Fund by 4.1% in the 4th quarter. Cetera Investment Advisers now owns 56,831 shares of the investment management company’s stock worth $236,000 after acquiring an additional 2,252 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of Gabelli Convertible & Income Securities Fund by 59.2% in the 4th quarter. Kestra Advisory Services LLC now owns 57,251 shares of the investment management company’s stock worth $238,000 after acquiring an additional 21,290 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Gabelli Convertible & Income Securities Fund in the 3rd quarter worth $186,000. Citadel Advisors LLC raised its position 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 acquiring an additional 9,506 shares in the last quarter. Finally, Integrity Advisory Solutions LLC bought a new position in shares of Gabelli Convertible & Income Securities Fund in the 4th quarter worth $48,000. 23.40% of the stock is owned by institutional investors.

Gabelli Convertible & Income Securities Fund Company Profile

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.