Cornerstone Advisors LLC Increases Stake in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

Cornerstone Advisors LLC increased its position in shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) by 769.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,099 shares of the investment management company’s stock after buying an additional 16,902 shares during the period. Cornerstone Advisors LLC owned about 0.10% of The Gabelli Convertible and Income Securities Fund worth $73,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth $39,000. Raymond James Financial Inc. acquired a new stake in The Gabelli Convertible and Income Securities Fund in the fourth quarter valued at $83,000. Janney Montgomery Scott LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund during the 4th quarter worth about $178,000. Finally, World Investment Advisors LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth about $405,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Price Performance

Shares of NYSE GCV opened at $3.83 on Wednesday. The stock’s 50-day simple moving average is $3.87 and its 200-day simple moving average is $3.86. The Gabelli Convertible and Income Securities Fund Inc. has a fifty-two week low of $3.35 and a fifty-two week high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 12.54%.

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.