Arete Wealth Advisors LLC Purchases Shares of 14,917 The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

Arete Wealth Advisors LLC acquired a new stake in shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 14,917 shares of the investment management company’s stock, valued at approximately $57,000. Arete Wealth Advisors LLC owned about 0.08% of The Gabelli Convertible and Income Securities Fund as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. World Investment Advisors LLC purchased a new position in The Gabelli Convertible and Income Securities Fund during the 3rd quarter valued at approximately $405,000. PFG Advisors grew its holdings in shares of The Gabelli Convertible and Income Securities Fund by 4.7% in the fourth quarter. PFG Advisors now owns 82,789 shares of the investment management company’s stock valued at $315,000 after purchasing an additional 3,739 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund during the fourth quarter valued at $178,000. Raymond James Financial Inc. bought a new position in The Gabelli Convertible and Income Securities Fund during the fourth quarter valued at $83,000. Finally, Cornerstone Advisors LLC grew its stake in shares of The Gabelli Convertible and Income Securities Fund by 769.3% in the 4th quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company’s stock worth $73,000 after buying an additional 16,902 shares in the last quarter. Hedge funds and other institutional investors own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Stock Down 6.9 %

Shares of NYSE:GCV opened at $3.25 on Tuesday. The Gabelli Convertible and Income Securities Fund Inc. has a 12 month low of $3.01 and a 12 month high of $4.34. The company has a 50-day moving average price of $3.82 and a 200 day moving average price of $3.83.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 14.77%. The ex-dividend date of this dividend was Monday, March 17th.

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.