Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Short Interest Down 35.2% in April

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) was the target of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 27,412 shares, a decrease of 35.2% from the April 15th total of 42,312 shares. Based on an average daily trading volume, of 38,304 shares, the short-interest ratio is presently 0.7 days. Approximately 0.1% of the shares of the company are short sold.

Gabelli Convertible & Income Securities Fund Price Performance

Shares of NYSE:GCV traded down $0.01 during trading on Monday, reaching $4.51. 62,261 shares of the company’s stock traded hands, compared to its average volume of 55,481. Gabelli Convertible & Income Securities Fund has a 12 month low of $3.58 and a 12 month high of $4.62. The company has a 50 day moving average of $4.42 and a 200-day moving average of $4.35.

Gabelli Convertible & Income Securities Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Investors Weigh In On Gabelli Convertible & Income Securities Fund

A number of institutional investors have recently modified their holdings of the business. Integrity Advisory Solutions LLC bought a new position in Gabelli Convertible & Income Securities Fund in the 4th quarter worth about $48,000. PMG Family Office LLC bought a new position in Gabelli Convertible & Income Securities Fund in the 3rd quarter worth about $57,000. Fisher Asset Management LLC bought a new position in Gabelli Convertible & Income Securities Fund in the 3rd quarter worth about $59,000. Citadel Advisors LLC grew its position in Gabelli Convertible & Income Securities Fund by 44.6% in 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, Cornerstone Advisors LLC grew its position in Gabelli Convertible & Income Securities Fund by 77.9% in the 3rd quarter. Cornerstone Advisors LLC now owns 31,931 shares of the investment management company’s stock worth $132,000 after purchasing an additional 13,985 shares during the last quarter. Institutional investors 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.