The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 772.9% in February

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 41,900 shares, a growth of 772.9% from the February 13th total of 4,800 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 43,300 shares, the short-interest ratio is currently 1.0 days.

The Gabelli Convertible and Income Securities Fund Trading Up 0.7 %

Shares of NYSE:GCV traded up $0.03 during trading on Friday, hitting $3.83. 1,360 shares of the company’s stock traded hands, compared to its average volume of 47,064. The Gabelli Convertible and Income Securities Fund has a 52 week low of $3.35 and a 52 week high of $4.34. The company has a 50-day moving average price of $3.87 and a 200-day moving average price of $3.86.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 12.55%. The ex-dividend date is Monday, March 17th.

Institutional Investors Weigh In On The Gabelli Convertible and Income Securities Fund

Institutional investors have recently bought and sold shares of the company. PFG Advisors increased its position in shares of The Gabelli Convertible and Income Securities Fund by 4.7% during the 4th quarter. PFG Advisors now owns 82,789 shares of the investment management company’s stock worth $315,000 after purchasing an additional 3,739 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth approximately $39,000. Arete Wealth Advisors LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund during the 4th quarter worth approximately $57,000. Cornerstone Advisors LLC increased its position in shares of The Gabelli Convertible and Income Securities Fund by 769.3% during the 4th quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company’s stock worth $73,000 after purchasing an additional 16,902 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of The Gabelli Convertible and Income Securities Fund during the 4th quarter worth approximately $83,000. Institutional investors own 23.40% of the company’s stock.

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.