Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Announces $0.12 Quarterly Dividend

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) declared a quarterly dividend on Wednesday, February 11th. Investors of record on Tuesday, March 17th will be given a dividend of 0.12 per share by the investment management company on Tuesday, March 24th. This represents a c) dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date of this dividend is Tuesday, March 17th.

Gabelli Convertible & Income Securities Fund Trading Down 1.0%

Shares of NYSE GCV opened at $4.48 on Thursday. Gabelli Convertible & Income Securities Fund has a 12-month low of $3.01 and a 12-month high of $4.55. The firm’s 50-day simple moving average is $4.30 and its 200 day simple moving average is $4.19.

Institutional Trading of Gabelli Convertible & Income Securities Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Integrity Advisory Solutions LLC bought a new position in Gabelli Convertible & Income Securities Fund in the 4th quarter worth approximately $48,000. PFG Advisors raised its position in shares of Gabelli Convertible & Income Securities Fund by 2.9% during the fourth quarter. PFG Advisors now owns 142,900 shares of the investment management company’s stock worth $593,000 after acquiring an additional 4,059 shares during the last quarter. PMG Family Office LLC acquired a new position in shares of Gabelli Convertible & Income Securities Fund during the third quarter valued at $57,000. Susquehanna International Group LLP acquired a new position in shares of Gabelli Convertible & Income Securities Fund during the third quarter valued at $186,000. Finally, Citadel Advisors LLC boosted its holdings in Gabelli Convertible & Income Securities Fund by 44.6% in the third quarter. Citadel Advisors LLC now owns 30,828 shares of the investment management company’s stock valued at $127,000 after acquiring an additional 9,506 shares during the last quarter. Institutional investors and hedge funds own 23.40% of the company’s stock.

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.