The Gabelli Convertible and Income Securities Fund (NYSE:GCV) Shares Down 1.1% – Time to Sell?

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) dropped 1.1% on Monday . The company traded as low as $4.00 and last traded at $4.02. Approximately 85,187 shares were traded during mid-day trading, an increase of 70% from the average daily volume of 50,204 shares. The stock had previously closed at $4.07.

The Gabelli Convertible and Income Securities Fund Stock Down 1.2 %

The stock has a fifty day moving average price of $3.84 and a 200-day moving average price of $3.78.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 11.91%. The ex-dividend date of this dividend is Friday, December 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GCV. M&R Capital Management Inc. boosted its position in The Gabelli Convertible and Income Securities Fund by 316.9% during the third quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after purchasing an additional 5,904 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund during the third quarter worth $39,000. Shaker Financial Services LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund during the third quarter worth $52,000. Hoylecohen LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund during the second quarter worth $128,000. Finally, World Investment Advisors LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund during the third quarter worth $405,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

About The Gabelli Convertible and Income Securities Fund

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.