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

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 42,773 shares, a growth of 95.9% from the September 30th total of 21,836 shares. Based on an average trading volume of 68,389 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the company’s shares are sold short.

Gabelli Convertible & Income Securities Fund Trading Down 0.1%

Gabelli Convertible & Income Securities Fund stock opened at $3.92 on Tuesday. The business’s 50-day simple moving average is $4.25 and its 200 day simple moving average is $4.45. Gabelli Convertible & Income Securities Fund has a 12-month low of $3.82 and a 12-month high of $4.80.

Gabelli Convertible & Income Securities Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, September 16th. This represents a $0.48 dividend on an annualized basis and a yield of 12.3%.

Institutional Inflows and Outflows

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

Gabelli Convertible & Income Securities Fund Company Profile

Gabelli Convertible & Income Securities Fund (NYSE: GCV) is a closed-end investment company managed by Gabelli Funds, LLC. The fund seeks to provide a high level of current income while also pursuing capital appreciation by investing primarily in convertible securities and other income-producing investments.

The fund’s portfolio may include convertible bonds, convertible preferred stocks, corporate debt securities, preferred securities and other fixed-income investments. Convertible securities generally provide regular income while offering the potential to participate in the equity performance of the issuing company.