The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 74.9% in June

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 29,200 shares, an increase of 74.9% from the May 31st total of 16,700 shares. Based on an average daily volume of 39,400 shares, the short-interest ratio is currently 0.7 days.

The Gabelli Convertible and Income Securities Fund Stock Performance

Shares of The Gabelli Convertible and Income Securities Fund stock traded up $0.04 during trading on Friday, reaching $3.66. 55,299 shares of the stock were exchanged, compared to its average volume of 47,800. The Gabelli Convertible and Income Securities Fund has a 1 year low of $3.15 and a 1 year high of $4.49. The stock’s fifty day moving average is $3.61 and its 200 day moving average is $3.62.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Thursday, June 13th were issued a $0.12 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.48 annualized dividend and a yield of 13.11%.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Advisors LLC increased its stake in shares of The Gabelli Convertible and Income Securities Fund by 53.0% during the first quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock valued at $95,000 after purchasing an additional 8,897 shares in the last quarter. PFG Advisors increased its position in shares of The Gabelli Convertible and Income Securities Fund by 3.8% during the first quarter. PFG Advisors now owns 87,262 shares of the investment management company’s stock valued at $324,000 after acquiring an additional 3,185 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of The Gabelli Convertible and Income Securities Fund by 91.7% during the first quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock valued at $90,000 after acquiring an additional 11,597 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund during the fourth quarter valued at approximately $225,000. Finally, L.M. Kohn & Company grew its position in The Gabelli Convertible and Income Securities Fund by 47.1% in the 4th quarter. L.M. Kohn & Company now owns 34,875 shares of the investment management company’s stock worth $126,000 after purchasing an additional 11,167 shares during the period. 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.