14,109 Shares in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Purchased by Shaker Financial Services LLC

Shaker Financial Services LLC purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,109 shares of the investment management company’s stock, valued at approximately $52,000. Shaker Financial Services LLC owned about 0.07% of The Gabelli Convertible and Income Securities Fund at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in 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 valued at $324,000 after buying an additional 3,185 shares in the last quarter. Hoylecohen LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund during the second quarter valued at approximately $128,000. Cornerstone Advisors LLC lifted its stake in shares of The Gabelli Convertible and Income Securities Fund by 53.0% in the 1st 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. Janney Montgomery Scott LLC boosted its holdings in shares of The Gabelli Convertible and Income Securities Fund by 91.7% in 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 period. Finally, M&R Capital Management Inc. increased 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 valued at $29,000 after purchasing an additional 5,904 shares during the last quarter. Hedge funds and other institutional investors own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Stock Performance

NYSE:GCV opened at $3.82 on Friday. The stock’s fifty day moving average is $3.82 and its 200 day moving average is $3.71. The Gabelli Convertible and Income Securities Fund Inc. has a fifty-two week low of $3.33 and a fifty-two week high of $4.34.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were issued a $0.12 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.48 annualized dividend and a dividend yield of 12.57%.

Insider Buying and Selling

In related news, insider Mario J. Gabelli sold 8,000 shares of the stock in a transaction dated 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 $4,368,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 12,669 shares of company stock valued at $49,549. Company insiders own 0.72% 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.