The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Down 98.8% in September

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 500 shares, a decline of 98.8% from the September 15th total of 42,000 shares. Based on an average daily volume of 55,300 shares, the days-to-cover ratio is currently 0.0 days.

Insider Activity at The Gabelli Convertible and Income Securities Fund

In related news, insider Mario J. Gabelli sold 8,000 shares of The Gabelli Convertible and Income Securities Fund stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $4.00, for a total transaction of $32,000.00. Following the sale, the insider now directly owns 1,092,000 shares in the company, valued at $4,368,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 11,093 shares of company stock valued at $43,656. 0.78% of the stock is owned by insiders.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

A number of large investors have recently bought and sold shares of GCV. M&R Capital Management Inc. grew its position in shares of The Gabelli Convertible and Income Securities Fund by 316.9% during the 3rd quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after buying an additional 5,904 shares during the period. Janney Montgomery Scott LLC boosted its stake in 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 worth $90,000 after acquiring an additional 11,597 shares in the last quarter. Cornerstone Advisors LLC grew its holdings in The Gabelli Convertible and Income Securities Fund by 53.0% in the first quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock worth $95,000 after purchasing an additional 8,897 shares during the period. Hoylecohen LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the second quarter valued at $128,000. Finally, Virtu Financial LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the fourth quarter valued at $225,000. 23.40% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Convertible and Income Securities Fund Price Performance

Shares of GCV traded up $0.01 during mid-day trading on Friday, reaching $3.73. 93,276 shares of the company were exchanged, compared to its average volume of 48,855. The Gabelli Convertible and Income Securities Fund has a 52 week low of $3.15 and a 52 week high of $4.34. The business has a 50 day simple moving average of $3.82 and a two-hundred day simple moving average of $3.70.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were issued a $0.12 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.48 annualized dividend and a yield of 12.87%.

The Gabelli Convertible and Income Securities Fund Company Profile

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.