World Investment Advisors LLC Makes New $405,000 Investment in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

World Investment Advisors LLC bought a new position in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 110,287 shares of the investment management company’s stock, valued at approximately $405,000. World Investment Advisors LLC owned approximately 0.57% of The Gabelli Convertible and Income Securities Fund at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. M&R Capital Management Inc. grew its holdings in shares of The Gabelli Convertible and Income Securities Fund by 316.9% in the third quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after acquiring an additional 5,904 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund in the third quarter worth $39,000. Finally, Shaker Financial Services LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund in the third quarter worth $52,000. Institutional investors own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Stock Down 1.3 %

Shares of GCV opened at $3.83 on Wednesday. The Gabelli Convertible and Income Securities Fund Inc. has a one year low of $3.35 and a one year high of $4.34. The business has a fifty day moving average of $3.86 and a 200 day moving average of $3.78.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 12.53%. The ex-dividend date is Friday, December 13th.

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.