The Gabelli Convertible and Income Securities Fund (NYSE:GCV) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.70 and traded as low as $3.67. The Gabelli Convertible and Income Securities Fund shares last traded at $3.69, with a volume of 22,830 shares.

The Gabelli Convertible and Income Securities Fund Stock Up 0.9 %

The company’s fifty day simple moving average is $3.82 and its 200-day simple moving average is $3.70.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 12.89%. The ex-dividend date of this dividend was Monday, September 16th.

Insider Buying and Selling at The Gabelli Convertible and Income Securities Fund

In other The Gabelli Convertible and Income Securities Fund news, insider Mario J. Gabelli sold 8,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $4.00, for a total value of $32,000.00. Following the sale, the insider now directly owns 1,092,000 shares of the company’s stock, valued at approximately $4,368,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 14,093 shares of company stock valued at $54,846. 0.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GCV. PFG Advisors raised its position in shares of The Gabelli Convertible and Income Securities Fund by 3.8% during the 1st quarter. PFG Advisors now owns 87,262 shares of the investment management company’s stock worth $324,000 after purchasing an additional 3,185 shares during the last quarter. Hoylecohen LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund during the 2nd quarter worth about $128,000. Cornerstone Advisors LLC raised its position in shares of The Gabelli Convertible and Income Securities Fund by 53.0% during the 1st quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock worth $95,000 after purchasing an additional 8,897 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of The Gabelli Convertible and Income Securities Fund by 91.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock worth $90,000 after purchasing an additional 11,597 shares during the last quarter. Finally, M&R Capital Management Inc. raised its position in shares of The Gabelli Convertible and Income Securities Fund by 316.9% during the 3rd quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after purchasing an additional 5,904 shares during the last quarter. Institutional investors and hedge funds own 23.40% of the company’s stock.

About The Gabelli Convertible and Income Securities Fund

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.