Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Sees Large Growth in Short Interest

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 4,555 shares, a growth of 328.5% from the May 31st total of 1,063 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 80,255 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GCV. Integrity Advisory Solutions LLC purchased a new stake in shares of Gabelli Convertible & Income Securities Fund in the 4th quarter worth approximately $48,000. PMG Family Office LLC bought a new position in Gabelli Convertible & Income Securities Fund in the third quarter worth approximately $57,000. Fisher Asset Management LLC purchased a new stake in Gabelli Convertible & Income Securities Fund during the third quarter worth $59,000. Citadel Advisors LLC lifted its holdings 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 buying an additional 9,506 shares during the period. Finally, Susquehanna International Group LLP bought a new stake in Gabelli Convertible & Income Securities Fund during the 3rd quarter valued at $186,000. Hedge funds and other institutional investors own 23.40% of the company’s stock.

Gabelli Convertible & Income Securities Fund Price Performance

Shares of GCV stock traded down $0.03 during mid-day trading on Friday, hitting $4.62. The stock had a trading volume of 55,862 shares, compared to its average volume of 70,493. Gabelli Convertible & Income Securities Fund has a 12-month low of $3.78 and a 12-month high of $4.77. The firm’s 50-day moving average is $4.57 and its two-hundred day moving average is $4.43.

Gabelli Convertible & Income Securities Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.48 dividend on an annualized basis and a yield of 10.4%.

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.