The Gabelli Convertible and Income Securities Fund (NYSE:GCV) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.80 and traded as low as $3.78. The Gabelli Convertible and Income Securities Fund shares last traded at $3.79, with a volume of 15,417 shares changing hands.

The Gabelli Convertible and Income Securities Fund Trading Up 0.8 %

The firm has a fifty day moving average price of $3.88 and a 200-day moving average price of $3.80.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.57%.

Hedge Funds Weigh In On The Gabelli Convertible and Income Securities Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. World Investment Advisors LLC bought a new position in The Gabelli Convertible and Income Securities Fund during the 3rd quarter worth $405,000. Shaker Financial Services LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund in the third quarter worth approximately $52,000. Wolverine Asset Management LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the third quarter valued at approximately $39,000. Finally, M&R Capital Management Inc. boosted its holdings in 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 acquiring an additional 5,904 shares during the last quarter. 23.40% of the stock is currently owned by institutional investors and hedge funds.

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.