Mario J. Gabelli Sells 4,198 Shares of Gabelli Convertbl and Incm Scrts Fnd Inc (NYSE:GCV) Stock

Gabelli Convertbl and Incm Scrts Fnd Inc (NYSE:GCV) insider Mario J. Gabelli sold 4,198 shares of Gabelli Convertbl and Incm Scrts Fnd stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $5.57, for a total transaction of $23,382.86. Following the transaction, the insider now directly owns 510,170 shares in the company, valued at approximately $2,841,646.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

GCV stock opened at $5.63 on Wednesday. Gabelli Convertbl and Incm Scrts Fnd Inc has a one year low of $3.20 and a one year high of $6.13. The company’s fifty day moving average price is $5.43 and its 200-day moving average price is $5.11.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 8.53%. The ex-dividend date is Tuesday, September 15th.

Several hedge funds have recently added to or reduced their stakes in GCV. Advisor Group Holdings Inc. purchased a new stake in Gabelli Convertbl and Incm Scrts Fnd during the first quarter valued at $3,121,000. PFG Advisors increased its position in Gabelli Convertbl and Incm Scrts Fnd by 9.1% during the second quarter. PFG Advisors now owns 56,431 shares of the investment management company’s stock valued at $300,000 after acquiring an additional 4,710 shares during the last quarter. Invesco Ltd. increased its position in Gabelli Convertbl and Incm Scrts Fnd by 3.3% during the first quarter. Invesco Ltd. now owns 80,130 shares of the investment management company’s stock valued at $357,000 after acquiring an additional 2,580 shares during the last quarter. Guggenheim Capital LLC increased its position in Gabelli Convertbl and Incm Scrts Fnd by 51.1% during the first quarter. Guggenheim Capital LLC now owns 275,601 shares of the investment management company’s stock valued at $1,229,000 after acquiring an additional 93,146 shares during the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV increased its position in Gabelli Convertbl and Incm Scrts Fnd by 66.3% during the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 43,900 shares of the investment management company’s stock valued at $196,000 after acquiring an additional 17,500 shares during the last quarter. 17.70% of the stock is currently owned by hedge funds and other institutional investors.

About Gabelli Convertbl and Incm Scrts Fnd

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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