Gabelli Convertible & Income Securities Fund (NYSE:GCV) Shares Pass Above Fifty Day Moving Average – What’s Next?

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $4.43 and traded as high as $4.45. Gabelli Convertible & Income Securities Fund shares last traded at $4.3250, with a volume of 27,892 shares.

Gabelli Convertible & Income Securities Fund Stock Down 2.0%

The stock’s fifty day moving average price is $4.43 and its 200-day moving average price is $4.29.

Gabelli Convertible & Income Securities Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.48 annualized dividend and a yield of 11.3%.

Institutional Trading of Gabelli Convertible & Income Securities Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Everstar Asset Management LLC boosted its holdings in shares of Gabelli Convertible & Income Securities Fund by 20.4% in the 2nd quarter. Everstar Asset Management LLC now owns 207,058 shares of the investment management company’s stock valued at $793,000 after buying an additional 35,143 shares during the last quarter. Cetera Investment Advisers lifted its stake in Gabelli Convertible & Income Securities Fund by 4.1% in the fourth quarter. Cetera Investment Advisers now owns 56,831 shares of the investment management company’s stock valued at $236,000 after acquiring an additional 2,252 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of Gabelli Convertible & Income Securities Fund in the 3rd quarter valued at about $186,000. Citadel Advisors LLC increased its stake in shares of Gabelli Convertible & Income Securities Fund by 44.6% during the 3rd quarter. Citadel Advisors LLC now owns 30,828 shares of the investment management company’s stock worth $127,000 after purchasing an additional 9,506 shares during the last quarter. Finally, PFG Advisors raised its holdings in shares of Gabelli Convertible & Income Securities Fund by 3.1% in the 3rd quarter. PFG Advisors now owns 138,841 shares of the investment management company’s stock valued at $573,000 after purchasing an additional 4,230 shares during the period. Institutional investors and hedge funds own 23.40% of the company’s stock.

About Gabelli Convertible & Income Securities Fund

Gabelli Convertible & Income Securities Fund (NYSE: GCV) is a closed-end management investment company that seeks to provide current income and capital appreciation by investing primarily in convertible securities and other fixed-income instruments. The fund’s portfolio typically includes convertible corporate bonds, preferred stocks, and equities of companies that offer the potential for both income generation and price appreciation through embedded option features.

The fund pursues a strategy that combines credit analysis with equity valuation to identify convertible securities that offer attractive yields relative to their risk profiles.