PFG Advisors Grows Holdings in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

PFG Advisors increased its position in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,789 shares of the investment management company’s stock after acquiring an additional 3,739 shares during the quarter. PFG Advisors owned about 0.43% of The Gabelli Convertible and Income Securities Fund worth $315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. World Investment Advisors LLC bought a new position in The Gabelli Convertible and Income Securities Fund in the 3rd quarter worth approximately $405,000. Janney Montgomery Scott LLC bought a new position in The Gabelli Convertible and Income Securities Fund in the 4th quarter worth approximately $178,000. Raymond James Financial Inc. bought a new position in The Gabelli Convertible and Income Securities Fund in the 4th quarter worth approximately $83,000. Finally, Cornerstone Advisors LLC boosted its stake in The Gabelli Convertible and Income Securities Fund by 769.3% in the 4th quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company’s stock worth $73,000 after purchasing an additional 16,902 shares during the period. 23.40% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Convertible and Income Securities Fund Stock Performance

GCV stock opened at $3.88 on Friday. The Gabelli Convertible and Income Securities Fund Inc. has a 1-year low of $3.35 and a 1-year high of $4.34. The business has a 50 day simple moving average of $3.87 and a two-hundred day simple moving average of $3.86.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.38%.

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.