Short Interest in Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Decreases By 35.2%

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) was the target of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 27,412 shares, a decrease of 35.2% from the April 15th total of 42,312 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 38,304 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of Gabelli Convertible & Income Securities Fund

A number of large investors have recently added to or reduced their stakes in GCV. Susquehanna International Group LLP purchased a new position in Gabelli Convertible & Income Securities Fund in the third quarter valued at about $186,000. Benjamin Edwards Inc. bought a new stake in shares of Gabelli Convertible & Income Securities Fund in the 3rd quarter worth approximately $168,000. Wolverine Asset Management LLC lifted its stake in Gabelli Convertible & Income Securities Fund by 80.3% in the third quarter. Wolverine Asset Management LLC now owns 69,549 shares of the investment management company’s stock valued at $287,000 after purchasing an additional 30,970 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in Gabelli Convertible & Income Securities Fund by 59.2% during the fourth quarter. Kestra Advisory Services LLC now owns 57,251 shares of the investment management company’s stock valued at $238,000 after purchasing an additional 21,290 shares during the period. Finally, Fisher Asset Management LLC purchased a new stake in Gabelli Convertible & Income Securities Fund in the third quarter worth $59,000. Hedge funds and other institutional investors own 23.40% of the company’s stock.

Gabelli Convertible & Income Securities Fund Stock Performance

Gabelli Convertible & Income Securities Fund stock traded down $0.12 during mid-day trading on Tuesday, reaching $4.41. 152,871 shares of the company’s stock were exchanged, compared to its average volume of 61,554. The business’s fifty day simple moving average is $4.42 and its 200 day simple moving average is $4.35. Gabelli Convertible & Income Securities Fund has a one year low of $3.58 and a one year high of $4.62.

Gabelli Convertible & Income Securities Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date of this dividend is Monday, June 15th.

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.