Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Short Interest Update

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 51,876 shares, a growth of 1,038.9% from the June 15th total of 4,555 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 57,917 shares, the days-to-cover ratio is currently 0.9 days.

Hedge Funds Weigh In On Gabelli Convertible & Income Securities Fund

A number of hedge funds have recently made changes to their positions in the stock. Integrity Advisory Solutions LLC acquired a new stake in shares of Gabelli Convertible & Income Securities Fund during the 4th quarter worth $48,000. PMG Family Office LLC acquired a new position in Gabelli Convertible & Income Securities Fund in the third quarter valued at $57,000. Citadel Advisors LLC boosted its holdings in Gabelli Convertible & Income Securities Fund by 44.6% in the third quarter. Citadel Advisors LLC now owns 30,828 shares of the investment management company’s stock valued at $127,000 after acquiring an additional 9,506 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Gabelli Convertible & Income Securities Fund during the third quarter valued at about $186,000. Finally, Cetera Investment Advisers increased its stake in Gabelli Convertible & Income Securities Fund by 4.1% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 23.40% of the company’s stock.

Gabelli Convertible & Income Securities Fund Trading Up 0.2%

Shares of GCV stock traded up $0.01 during trading hours on Friday, hitting $4.65. 35,104 shares of the company were exchanged, compared to its average volume of 43,274. Gabelli Convertible & Income Securities Fund has a 1 year low of $3.83 and a 1 year high of $4.77. The firm has a fifty day moving average of $4.60 and a 200 day moving average of $4.46.

Gabelli Convertible & Income Securities Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.48 annualized dividend and a yield of 10.3%.

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.