Short Interest in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Increases By 131.6%

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 13,200 shares, a growth of 131.6% from the December 31st total of 5,700 shares. Based on an average daily volume of 52,700 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On The Gabelli Convertible and Income Securities Fund

A number of hedge funds have recently bought and sold shares of the company. M&R Capital Management Inc. increased its position in shares of The Gabelli Convertible and Income Securities Fund by 316.9% during the third quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 5,904 shares during the last quarter. Shaker Financial Services LLC bought a new position in The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at $52,000. Wolverine Asset Management LLC purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter valued at $39,000. World Investment Advisors LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth $405,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter worth about $178,000. 23.40% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Convertible and Income Securities Fund Price Performance

Shares of GCV traded down $0.02 during trading hours on Wednesday, reaching $3.87. The stock had a trading volume of 8,179 shares, compared to its average volume of 35,177. The firm has a 50-day simple moving average of $3.90 and a 200 day simple moving average of $3.83. The Gabelli Convertible and Income Securities Fund has a 12 month low of $3.35 and a 12 month high of $4.34.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.48 annualized dividend and a dividend yield of 12.40%.

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.