Gabelli Convertible & Income Securities Fund (NYSE:GCV) Stock Crosses Above 50-Day Moving Average – Time to Sell?

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $4.21 and traded as high as $4.28. Gabelli Convertible & Income Securities Fund shares last traded at $4.25, with a volume of 34,316 shares traded.

Gabelli Convertible & Income Securities Fund Stock Down 0.9%

The stock’s fifty day simple moving average is $4.21 and its 200 day simple moving average is $4.07.

Gabelli Convertible & Income Securities Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 12th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.48 dividend on an annualized basis and a yield of 11.4%.

Insider Transactions at Gabelli Convertible & Income Securities Fund

In related news, insider Mario J. Gabelli bought 50,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $4.29 per share, with a total value of $214,500.00. Following the purchase, the insider directly owned 486,501 shares of the company’s stock, valued at $2,087,089.29. The trade was a 11.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Mallini Complete Financial Planning LLC increased its position in Gabelli Convertible & Income Securities Fund by 17.9% during the second quarter. Mallini Complete Financial Planning LLC now owns 53,337 shares of the investment management company’s stock worth $204,000 after purchasing an additional 8,093 shares during the last quarter. Arlington Capital Management Inc. purchased a new stake in shares of Gabelli Convertible & Income Securities Fund in the 2nd quarter valued at approximately $161,000. World Investment Advisors acquired a new stake in shares of Gabelli Convertible & Income Securities Fund during the 2nd quarter worth approximately $188,000. Wolverine Asset Management LLC acquired a new stake in shares of Gabelli Convertible & Income Securities Fund during the 2nd quarter worth approximately $148,000. Finally, Shaker Financial Services LLC purchased a new stake in shares of Gabelli Convertible & Income Securities Fund during the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

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.