Insider Selling: The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Insider Sells 3,000 Shares of Stock

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) insider Mario J. Gabelli sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $3.73, for a total transaction of $11,190.00. Following the completion of the sale, the insider now owns 1,089,000 shares in the company, valued at approximately $4,061,970. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

The Gabelli Convertible and Income Securities Fund Stock Down 1.1 %

The Gabelli Convertible and Income Securities Fund stock opened at $3.72 on Friday. The Gabelli Convertible and Income Securities Fund Inc. has a 12 month low of $3.15 and a 12 month high of $4.34. The business has a 50 day moving average price of $3.82 and a two-hundred day moving average price of $3.70.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.48 annualized dividend and a dividend yield of 12.90%.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GCV. Cornerstone Advisors LLC boosted its holdings in 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. Virtu Financial LLC bought a new position in shares of The Gabelli Convertible and Income Securities Fund during the 4th quarter worth approximately $225,000. Janney Montgomery Scott LLC boosted its stake in The Gabelli Convertible and Income Securities Fund by 91.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock valued at $90,000 after buying an additional 11,597 shares in the last quarter. M&R Capital Management Inc. grew its position in 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 valued at $29,000 after acquiring an additional 5,904 shares during the period. Finally, Hoylecohen LLC acquired a new position in The Gabelli Convertible and Income Securities Fund during the second quarter worth $128,000. Institutional investors own 23.40% of the company’s stock.

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.