Mario J. Gabelli Sells 3,000 Shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Stock

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) insider Mario J. Gabelli sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $3.73, for a total transaction of $11,190.00. Following the completion of the transaction, the insider now owns 1,089,000 shares in the company, valued at $4,061,970. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

The Gabelli Convertible and Income Securities Fund Trading Up 0.3 %

GCV stock opened at $3.76 on Friday. The stock has a 50-day simple moving average of $3.82 and a 200-day simple moving average of $3.70. The Gabelli Convertible and Income Securities Fund Inc. has a 1 year low of $3.15 and a 1 year high of $4.34.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.77%. The ex-dividend date was Monday, September 16th.

Institutional Investors Weigh In On The Gabelli Convertible and Income Securities Fund

A number of institutional investors have recently modified their holdings of GCV. Virtu Financial LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at about $225,000. Hoylecohen LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 2nd quarter worth approximately $128,000. Janney Montgomery Scott LLC increased its holdings in shares of 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 valued at $90,000 after buying an additional 11,597 shares in the last quarter. Cornerstone Advisors LLC lifted its holdings in shares of The Gabelli Convertible and Income Securities Fund by 53.0% during the first quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock valued at $95,000 after purchasing an additional 8,897 shares during the last quarter. Finally, M&R Capital Management Inc. boosted its holdings in shares of The Gabelli Convertible and Income Securities Fund by 316.9% in the third quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after buying an additional 5,904 shares during the period. 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.