Cornerstone Advisors LLC Boosts Stock Position in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

Cornerstone Advisors LLC lifted its holdings in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) by 53.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,697 shares of the investment management company’s stock after purchasing an additional 8,897 shares during the quarter. Cornerstone Advisors LLC owned 0.13% of The Gabelli Convertible and Income Securities Fund worth $95,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in shares of The Gabelli Convertible and Income Securities Fund in the fourth quarter valued at $27,000. Janney Montgomery Scott LLC lifted its position in 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 worth $90,000 after buying an additional 11,597 shares during the last quarter. Arlington Capital Management Inc. bought a new stake in The Gabelli Convertible and Income Securities Fund in the fourth quarter worth $114,000. L.M. Kohn & Company lifted its position in The Gabelli Convertible and Income Securities Fund by 47.1% in the fourth quarter. L.M. Kohn & Company now owns 34,875 shares of the investment management company’s stock worth $126,000 after buying an additional 11,167 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its position in The Gabelli Convertible and Income Securities Fund by 18.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 41,578 shares of the investment management company’s stock worth $150,000 after buying an additional 6,445 shares during the last quarter. 23.40% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Convertible and Income Securities Fund Stock Up 2.5 %

GCV traded up $0.09 during trading on Friday, reaching $3.74. The company had a trading volume of 25,697 shares, compared to its average volume of 40,115. The business has a 50 day simple moving average of $3.64 and a 200-day simple moving average of $3.63. The Gabelli Convertible and Income Securities Fund Inc. has a 52 week low of $3.15 and a 52 week high of $4.47.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 13th were given a $0.12 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a yield of 12.83%.

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.