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

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.70 and traded as low as $3.67. The Gabelli Convertible and Income Securities Fund shares last traded at $3.69, with a volume of 22,830 shares trading hands.

The Gabelli Convertible and Income Securities Fund Stock Performance

The business has a 50 day moving average of $3.83 and a two-hundred day moving average of $3.70.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.01%. The ex-dividend date was Monday, September 16th.

Insider Buying and Selling at The Gabelli Convertible and Income Securities Fund

In related news, insider Mario J. Gabelli sold 8,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $4.00, for a total value of $32,000.00. Following the transaction, the insider now owns 1,092,000 shares of the company’s stock, valued at approximately $4,368,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 14,093 shares of company stock worth $54,846. 0.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. PFG Advisors raised its position in The Gabelli Convertible and Income Securities Fund by 3.8% in the 1st quarter. PFG Advisors now owns 87,262 shares of the investment management company’s stock valued at $324,000 after buying an additional 3,185 shares during the last quarter. M&R Capital Management Inc. raised its holdings in shares of The Gabelli Convertible and Income Securities Fund by 316.9% in the third quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 5,904 shares during the last quarter. Cornerstone Advisors LLC lifted its position in shares of The Gabelli Convertible and Income Securities Fund by 53.0% during the first quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock valued at $95,000 after purchasing an additional 8,897 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in The Gabelli Convertible and Income Securities Fund by 91.7% during the first quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock worth $90,000 after purchasing an additional 11,597 shares during the last quarter. Finally, Hoylecohen LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the 2nd quarter worth about $128,000. Institutional investors own 23.40% of the company’s stock.

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.