The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Sees Large Increase in Short Interest

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 29,200 shares, an increase of 74.9% from the May 31st total of 16,700 shares. Based on an average daily trading volume, of 39,400 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of The Gabelli Convertible and Income Securities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC increased its stake in The Gabelli Convertible and Income Securities Fund by 170.7% in the 4th quarter. Wolverine Asset Management LLC now owns 99,088 shares of the investment management company’s stock worth $357,000 after acquiring an additional 62,480 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in The Gabelli Convertible and Income Securities Fund by 18.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 41,578 shares of the investment management company’s stock worth $150,000 after acquiring an additional 6,445 shares during the last quarter. Arlington Capital Management Inc. bought a new position in The Gabelli Convertible and Income Securities Fund in the 4th quarter worth about $114,000. Shaker Financial Services LLC bought a new position in The Gabelli Convertible and Income Securities Fund in the 4th quarter worth about $682,000. Finally, Principal Securities Inc. bought a new position in The Gabelli Convertible and Income Securities Fund in the 4th quarter worth about $27,000. 23.40% of the stock is currently owned by institutional investors.

The Gabelli Convertible and Income Securities Fund Stock Performance

Shares of NYSE:GCV traded up $0.04 during midday trading on Friday, reaching $3.66. 55,299 shares of the company traded hands, compared to its average volume of 47,800. The Gabelli Convertible and Income Securities Fund has a 12 month low of $3.15 and a 12 month high of $4.49. The firm’s fifty day moving average price is $3.61 and its two-hundred day moving average price is $3.62.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 13th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.11%.

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.