Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Shares Shorted: Short Interest Down 88.5% in October

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) saw a large drop in short interest during the month of October. As of October 30th, there was short interest totaling 4,908 shares, a drop of 88.5% from the October 15th total of 42,773 shares. Based on an average daily trading volume, of 74,568 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Gabelli Convertible & Income Securities Fund Stock Up 1.0%

Shares of GCV stock traded up $0.04 during trading hours on Wednesday, hitting $3.88. The company’s stock had a trading volume of 38,180 shares, compared to its average volume of 56,954. Gabelli Convertible & Income Securities Fund has a 12-month low of $3.50 and a 12-month high of $4.80. The company has a 50 day moving average of $4.16 and a 200 day moving average of $4.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mallini Complete Financial Planning LLC grew its position in Gabelli Convertible & Income Securities Fund by 7.2% during the 2nd quarter. Mallini Complete Financial Planning LLC now owns 59,679 shares of the investment management company’s stock worth $279,000 after purchasing an additional 3,996 shares during the period. Equitable Holdings Inc. purchased a new position in shares of Gabelli Convertible & Income Securities Fund during the 2nd quarter valued at about $393,000. Benjamin Edwards Inc. lifted its holdings in shares of Gabelli Convertible & Income Securities Fund by 8.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 37,039 shares of the investment management company’s stock valued at $173,000 after buying an additional 2,907 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Gabelli Convertible & Income Securities Fund in the 2nd quarter valued at about $131,000. 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 investment company managed by Gabelli Funds, LLC. The fund seeks to provide a high level of current income while also pursuing capital appreciation by investing primarily in convertible securities and other income-producing investments. The fund’s portfolio may include convertible bonds, convertible preferred stocks, corporate debt securities, preferred securities and other fixed-income investments. Convertible securities generally provide regular income while offering the potential to participate in the equity performance of the issuing company.