The Gabelli Convertible and Income Securities Fund (NYSE:GCV) Stock Price Crosses Below 200 Day Moving Average of $3.69

Shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.69 and traded as low as $3.65. The Gabelli Convertible and Income Securities Fund shares last traded at $3.68, with a volume of 71,557 shares trading hands.

The Gabelli Convertible and Income Securities Fund Stock Performance

The business’s 50 day simple moving average is $3.82 and its two-hundred day simple moving average is $3.69.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 13.04%. The ex-dividend date was Monday, September 16th.

Insider Buying and Selling

In other The Gabelli Convertible and Income Securities Fund news, insider Mario J. Gabelli sold 8,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $4.00, for a total transaction of $32,000.00. Following the sale, the insider now directly owns 1,092,000 shares in the company, valued at approximately $4,368,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 11,093 shares of company stock worth $43,656 in the last three months. Insiders own 0.78% of the company’s stock.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its stake in shares of The Gabelli Convertible and Income Securities Fund by 91.7% in the first quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock worth $90,000 after acquiring an additional 11,597 shares during the period. Cornerstone Advisors LLC boosted its holdings in The Gabelli Convertible and Income Securities Fund by 53.0% in the first quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock worth $95,000 after purchasing an additional 8,897 shares during the last quarter. Hoylecohen LLC bought a new stake in The Gabelli Convertible and Income Securities Fund in the 2nd quarter worth approximately $128,000. Virtu Financial LLC purchased a new stake in The Gabelli Convertible and Income Securities Fund during the 4th quarter valued at $225,000. Finally, PFG Advisors lifted its holdings in shares of The Gabelli Convertible and Income Securities Fund by 3.8% during 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 period. Institutional investors own 23.40% of the company’s stock.

About The Gabelli Convertible and Income Securities Fund

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.