Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Stock Short Interest Report for October

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) saw a large drop in short interest in October. As of October 30th, there was short interest totaling 4,908 shares, a drop of 88.5% from the October 15th total of 42,773 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 74,568 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Gabelli Convertible & Income Securities Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE acquired a new stake in Gabelli Convertible & Income Securities Fund in the 2nd quarter valued at approximately $131,000. Benjamin Edwards Inc. boosted its position in Gabelli Convertible & Income Securities Fund by 8.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 37,039 shares of the investment management company’s stock worth $173,000 after acquiring an additional 2,907 shares during the period. Mallini Complete Financial Planning LLC boosted its position in Gabelli Convertible & Income Securities Fund by 7.2% during the 2nd quarter. Mallini Complete Financial Planning LLC now owns 59,679 shares of the investment management company’s stock worth $279,000 after acquiring an additional 3,996 shares during the period. Finally, Equitable Holdings Inc. bought a new position in shares of Gabelli Convertible & Income Securities Fund in the second quarter worth $393,000. 23.40% of the stock is owned by institutional investors and hedge funds.

Gabelli Convertible & Income Securities Fund Price Performance

Shares of NYSE GCV traded down $0.01 during trading on Friday, reaching $3.82. The stock had a trading volume of 25,874 shares, compared to its average volume of 56,803. Gabelli Convertible & Income Securities Fund has a one year low of $3.50 and a one year high of $4.80. The firm’s 50 day moving average price is $4.13 and its two-hundred day moving average price is $4.43.

Gabelli Convertible & Income Securities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 11th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, December 11th. This represents a $0.48 annualized dividend and a yield of 12.6%.

About Gabelli Convertible & Income Securities Fund

Gabelli Convertible & Income Securities Fund, Inc. is a closed-end investment company that seeks high current income and, secondarily, capital appreciation. Rather than operating a commercial business, it invests in a portfolio of securities on behalf of its shareholders. The fund focuses on convertible securities and may also hold other income-producing investments, such as corporate debt and preferred or common stocks. Its portfolio spans issuers and industries, and may include securities of U.S. and non-U.S. companies.