The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 74.9% in June

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 29,200 shares, a growth 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 presently 0.7 days.

The Gabelli Convertible and Income Securities Fund Stock Performance

Shares of GCV traded up $0.04 on Friday, hitting $3.66. 55,299 shares of the stock traded hands, compared to its average volume of 47,800. The Gabelli Convertible and Income Securities Fund has a 1 year low of $3.15 and a 1 year high of $4.49. The stock’s 50 day moving average is $3.61 and its two-hundred day moving average 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. Shareholders of record on Thursday, June 13th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 13.11%. The ex-dividend date was Thursday, June 13th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GCV. Shaker Financial Services LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund in the fourth quarter worth approximately $682,000. Wolverine Asset Management LLC lifted its stake in shares of The Gabelli Convertible and Income Securities Fund by 170.7% in the fourth quarter. Wolverine Asset Management LLC now owns 99,088 shares of the investment management company’s stock worth $357,000 after buying an additional 62,480 shares during the last quarter. PFG Advisors increased its position in The Gabelli Convertible and Income Securities Fund by 3.8% during the first quarter. PFG Advisors now owns 87,262 shares of the investment management company’s stock worth $324,000 after acquiring an additional 3,185 shares during the period. Virtu Financial LLC bought a new position in The Gabelli Convertible and Income Securities Fund during the fourth quarter worth $225,000. Finally, International Assets Investment Management LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at $183,000. 23.40% of the stock is currently owned by institutional investors.

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.