The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV – Get Free Report) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 29,200 shares, a growth of 74.9% from the May 31st total of 16,700 shares. Based on an average daily trading volume, of 39,400 shares, the short-interest ratio is presently 0.7 days.
Institutional Trading of The Gabelli Convertible and Income Securities Fund
Large investors have recently modified their holdings of the company. Principal Securities Inc. purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund in the fourth quarter valued at approximately $27,000. Cornerstone Advisors LLC bought a new position in The Gabelli Convertible and Income Securities Fund in the fourth quarter worth approximately $60,000. Janney Montgomery Scott LLC raised its stake in The Gabelli Convertible and Income Securities Fund by 91.7% in the first quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock worth $90,000 after buying an additional 11,597 shares in the last quarter. Arlington Capital Management Inc. bought a new position in The Gabelli Convertible and Income Securities Fund in the fourth quarter worth approximately $114,000. Finally, L.M. Kohn & Company raised its stake in The Gabelli Convertible and Income Securities Fund by 47.1% in the fourth quarter. L.M. Kohn & Company now owns 34,875 shares of the investment management company’s stock worth $126,000 after buying an additional 11,167 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 Up 1.1 %
Shares of NYSE:GCV traded up $0.04 during trading hours on Friday, hitting $3.66. 55,299 shares of the company’s stock traded hands, compared to its average volume of 47,800. The Gabelli Convertible and Income Securities Fund has a 1 year low of $3.15 and a 1 year high of $4.49. The business has a fifty day moving average price of $3.61 and a 200-day moving average price of $3.62.
The Gabelli Convertible and Income Securities Fund Announces Dividend
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.
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