Gabelli Convertible & Income Securities Fund Inc. to Issue Quarterly Dividend of $0.12 (NYSE:GCV)

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) announced a quarterly dividend on Wednesday, May 13th. Stockholders of record on Monday, June 15th will be given a dividend of 0.12 per share by the investment management company on Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date of this dividend is Monday, June 15th.

Gabelli Convertible & Income Securities Fund Stock Up 0.2%

Shares of Gabelli Convertible & Income Securities Fund stock opened at $4.54 on Thursday. The firm’s 50 day moving average is $4.42 and its 200 day moving average is $4.34. Gabelli Convertible & Income Securities Fund has a 1 year low of $3.58 and a 1 year high of $4.62.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. PFG Advisors boosted its holdings in shares of Gabelli Convertible & Income Securities Fund by 2.9% during the 4th quarter. PFG Advisors now owns 142,900 shares of the investment management company’s stock valued at $593,000 after acquiring an additional 4,059 shares in the last quarter. Wolverine Asset Management LLC increased its holdings in Gabelli Convertible & Income Securities Fund by 80.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 69,549 shares of the investment management company’s stock worth $287,000 after purchasing an additional 30,970 shares in the last quarter. Kestra Advisory Services LLC raised its position in Gabelli Convertible & Income Securities Fund by 59.2% in the fourth quarter. Kestra Advisory Services LLC now owns 57,251 shares of the investment management company’s stock valued at $238,000 after purchasing an additional 21,290 shares during the last quarter. Cetera Investment Advisers raised its position 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 purchasing an additional 2,252 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of Gabelli Convertible & Income Securities Fund during the third quarter valued at about $186,000. 23.40% of the stock is currently owned by institutional investors and hedge funds.

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.