Private Advisor Group LLC Makes New Investment in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

Private Advisor Group LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,000 shares of the investment management company’s stock, valued at approximately $67,000. Private Advisor Group LLC owned about 0.06% of The Gabelli Convertible and Income Securities Fund as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Charter Oak Capital Management LLC acquired a new stake in The Gabelli Convertible and Income Securities Fund in the 4th quarter valued at $33,000. Wells Fargo & Company MN grew its stake in shares of The Gabelli Convertible and Income Securities Fund by 29.9% during the fourth quarter. Wells Fargo & Company MN now owns 8,679 shares of the investment management company’s stock valued at $54,000 after acquiring an additional 2,000 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of The Gabelli Convertible and Income Securities Fund by 17.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 12,886 shares of the investment management company’s stock worth $81,000 after purchasing an additional 1,938 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of The Gabelli Convertible and Income Securities Fund during the fourth quarter worth about $83,000. Finally, Claraphi Advisory Network LLC lifted its position in shares of The Gabelli Convertible and Income Securities Fund by 136.7% during the fourth quarter. Claraphi Advisory Network LLC now owns 26,750 shares of the investment management company’s stock worth $167,000 after purchasing an additional 15,450 shares during the last quarter. Institutional investors and hedge funds own 17.39% of the company’s stock.

Shares of NYSE GCV opened at $6.12 on Thursday. The firm’s 50-day moving average price is $6.29 and its two-hundred day moving average price is $6.17. The Gabelli Convertible and Income Securities Fund Inc. has a 52-week low of $4.62 and a 52-week high of $6.83.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 24th. Shareholders of record on Wednesday, March 17th were paid a $0.12 dividend. The ex-dividend date was Tuesday, March 16th. This represents a $0.48 annualized dividend and a dividend yield of 7.84%.

The Gabelli Convertible and Income Securities Fund Company 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.

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Institutional Ownership by Quarter for The Gabelli Convertible and Income Securities Fund (NYSE:GCV)

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