Gabelli Convertible & Income Securities Fund (NYSE:GCV) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $4.13 and traded as high as $4.32. Gabelli Convertible & Income Securities Fund shares last traded at $4.29, with a volume of 38,410 shares trading hands.

Gabelli Convertible & Income Securities Fund Stock Performance

The business’s 50 day simple moving average is $4.13 and its two-hundred day simple moving average is $3.85.

Gabelli Convertible & Income Securities Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.48 dividend on an annualized basis and a yield of 11.2%. This is an increase from Gabelli Convertible & Income Securities Fund’s previous quarterly dividend of $0.03.

Institutional Trading of Gabelli Convertible & Income Securities Fund

A number of institutional investors and hedge funds have recently bought and sold shares of GCV. LPL Financial LLC grew its stake in shares of Gabelli Convertible & Income Securities Fund by 1.4% in the first quarter. LPL Financial LLC now owns 687,166 shares of the investment management company’s stock worth $2,567,000 after acquiring an additional 9,723 shares during the period. Everstar Asset Management LLC grew its stake in shares of Gabelli Convertible & Income Securities Fund by 20.4% in the second quarter. Everstar Asset Management LLC now owns 207,058 shares of the investment management company’s stock worth $793,000 after acquiring an additional 35,143 shares during the period. PFG Advisors grew its stake in shares of Gabelli Convertible & Income Securities Fund by 44.1% in the second quarter. PFG Advisors now owns 134,611 shares of the investment management company’s stock worth $516,000 after acquiring an additional 41,190 shares during the period. Cetera Investment Advisers grew its stake in shares of Gabelli Convertible & Income Securities Fund by 112.0% in the first quarter. Cetera Investment Advisers now owns 61,250 shares of the investment management company’s stock worth $229,000 after acquiring an additional 32,355 shares during the period. Finally, Mallini Complete Financial Planning LLC grew its stake in shares of Gabelli Convertible & Income Securities Fund by 17.9% in the second quarter. Mallini Complete Financial Planning LLC now owns 53,337 shares of the investment management company’s stock worth $204,000 after acquiring an additional 8,093 shares during the period. 23.40% of the stock is currently owned by institutional investors.

Gabelli Convertible & 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.