Shares of Gabelli Convertbl and Incm Scrts Fnd Inc (NYSE:GCV) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $5.24 and traded as low as $5.27. Gabelli Convertbl and Incm Scrts Fnd shares last traded at $5.30, with a volume of 2,346 shares trading hands.

The stock has a 50-day moving average of $5.24 and a two-hundred day moving average of $5.16.

A number of hedge funds have recently bought and sold shares of GCV. Cambridge Investment Research Advisors Inc. raised its position in shares of Gabelli Convertbl and Incm Scrts Fnd by 23.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,174 shares of the investment management company’s stock worth $73,000 after acquiring an additional 2,648 shares during the last quarter. Morgan Stanley raised its position in shares of Gabelli Convertbl and Incm Scrts Fnd by 5.0% during the second quarter. Morgan Stanley now owns 662,835 shares of the investment management company’s stock worth $3,400,000 after acquiring an additional 31,359 shares during the last quarter. Shaker Financial Services LLC raised its position in shares of Gabelli Convertbl and Incm Scrts Fnd by 54.1% during the second quarter. Shaker Financial Services LLC now owns 198,404 shares of the investment management company’s stock worth $1,018,000 after acquiring an additional 69,647 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Gabelli Convertbl and Incm Scrts Fnd by 174.6% during the second quarter. Wells Fargo & Company MN now owns 18,336 shares of the investment management company’s stock worth $94,000 after acquiring an additional 11,658 shares during the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV raised its position in shares of Gabelli Convertbl and Incm Scrts Fnd by 52.4% during the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 40,700 shares of the investment management company’s stock worth $209,000 after acquiring an additional 14,000 shares during the last quarter. 14.18% of the stock is owned by institutional investors.

About Gabelli Convertbl and Incm Scrts Fnd (NYSE:GCV)

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.

Further Reading: Buy Rating

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