The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Short Interest Up 131.6% in December

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 13,200 shares, a growth of 131.6% from the December 15th total of 5,700 shares. Based on an average daily trading volume, of 52,700 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On The Gabelli Convertible and Income Securities Fund

Hedge funds have recently made changes to their positions in the stock. World Investment Advisors LLC acquired a new position in The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at approximately $405,000. Shaker Financial Services LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund in the third quarter valued at $52,000. Wolverine Asset Management LLC bought a new position in The Gabelli Convertible and Income Securities Fund in the third quarter worth $39,000. Finally, M&R Capital Management Inc. increased its holdings in The Gabelli Convertible and Income Securities Fund by 316.9% in 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 buying an additional 5,904 shares during the period. Institutional investors own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Price Performance

Shares of NYSE GCV traded down $0.04 during trading hours on Thursday, hitting $3.83. 58,172 shares of the company’s stock were exchanged, compared to its average volume of 32,437. The company’s 50-day moving average price is $3.90 and its 200-day moving average price is $3.81. The Gabelli Convertible and Income Securities Fund has a 1-year low of $3.35 and a 1-year high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.48 annualized dividend and a dividend yield of 12.55%.

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.