The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) Holdings Lowered by Everstar Asset Management LLC

Everstar Asset Management LLC lessened its stake in shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) by 14.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,570 shares of the investment management company’s stock after selling 24,391 shares during the quarter. Everstar Asset Management LLC owned about 0.73% of The Gabelli Convertible and Income Securities Fund worth $539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC acquired a new stake in shares of The Gabelli Convertible and Income Securities Fund in the third quarter valued at $405,000. Janney Montgomery Scott LLC acquired a new stake in The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at about $178,000. Raymond James Financial Inc. bought a new position in shares of The Gabelli Convertible and Income Securities Fund during the 4th quarter valued at about $83,000. Cornerstone Advisors LLC grew its stake in shares of 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 last quarter. Finally, PFG Advisors raised its holdings in shares of The Gabelli Convertible and Income Securities Fund by 4.7% in the 4th quarter. PFG Advisors now owns 82,789 shares of the investment management company’s stock worth $315,000 after purchasing an additional 3,739 shares in the last quarter. Institutional investors own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Stock Performance

Shares of NYSE:GCV opened at $3.73 on Monday. 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 company has a 50 day moving average price of $3.86 and a 200 day moving average price of $3.84.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.87%. The ex-dividend date was Monday, March 17th.

The Gabelli Convertible and Income Securities Fund Profile

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.