The Gabelli Convertible and Income Securities Fund (NYSE:GCV) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.79 and traded as low as $3.79. The Gabelli Convertible and Income Securities Fund shares last traded at $3.83, with a volume of 24,864 shares traded.

The Gabelli Convertible and Income Securities Fund Price Performance

The business’s fifty day moving average price is $3.87 and its 200-day moving average price is $3.79.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 12.37%. The ex-dividend date of this dividend was Friday, December 13th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. M&R Capital Management Inc. grew 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 buying an additional 5,904 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter valued at about $39,000. Shaker Financial Services LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund during the third quarter worth about $52,000. Finally, World Investment Advisors LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund during the third quarter worth about $405,000. Institutional investors 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.