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 share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

The Gabelli Convertible and Income Securities Fund Trading Down 0.5 %

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

The Gabelli Convertible and Income Securities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 12.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. M&R Capital Management Inc. increased its stake 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 worth $29,000 after purchasing an additional 5,904 shares during the period. Wolverine Asset Management LLC bought a new position in The Gabelli Convertible and Income Securities Fund in the 3rd quarter worth approximately $39,000. Shaker Financial Services LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund during the third quarter worth approximately $52,000. Finally, World Investment Advisors LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund in the third quarter valued at approximately $405,000. Institutional investors and hedge funds 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.