Short Interest in Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Decreases By 56.6%

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 18,465 shares, a drop of 56.6% from the July 30th total of 42,573 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 49,755 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GCV. Integrity Advisory Solutions LLC acquired a new position in Gabelli Convertible & Income Securities Fund during the fourth quarter worth $48,000. Citadel Advisors LLC increased its stake in Gabelli Convertible & Income Securities Fund by 44.6% during the third quarter. Citadel Advisors LLC now owns 30,828 shares of the investment management company’s stock worth $127,000 after acquiring an additional 9,506 shares during the last quarter. Bank of America Corp DE purchased a new stake in Gabelli Convertible & Income Securities Fund in the second quarter valued at $131,000. Benjamin Edwards Inc. grew its holdings in shares of Gabelli Convertible & Income Securities Fund by 8.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 37,039 shares of the investment management company’s stock worth $173,000 after purchasing an additional 2,907 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in shares of Gabelli Convertible & Income Securities Fund during the 3rd quarter worth about $186,000. 23.40% of the stock is owned by institutional investors and hedge funds.

Gabelli Convertible & Income Securities Fund Price Performance

NYSE GCV traded down $0.05 on Monday, hitting $4.54. The company had a trading volume of 27,238 shares, compared to its average volume of 56,687. Gabelli Convertible & Income Securities Fund has a 12-month low of $3.98 and a 12-month high of $4.80. The company’s fifty day moving average price is $4.63 and its 200-day moving average price is $4.54.

Gabelli Convertible & Income Securities Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 10.6%. The ex-dividend date is Wednesday, September 16th.

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.