Gabelli Convertible & Income Securities Fund (NYSE:GCV) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $4.54 and traded as low as $4.38. Gabelli Convertible & Income Securities Fund shares last traded at $4.4250, with a volume of 89,232 shares traded.

Gabelli Convertible & Income Securities Fund Trading Down 2.2%

The company has a fifty day moving average price of $4.57 and a two-hundred day moving average price of $4.54.

Gabelli Convertible & Income Securities Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, September 16th. This represents a $0.48 dividend on an annualized basis and a yield of 11.2%.

Institutional Investors Weigh In On Gabelli Convertible & Income Securities Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Equitable Holdings Inc. bought a new position in shares of Gabelli Convertible & Income Securities Fund during the 2nd quarter worth about $393,000. Mallini Complete Financial Planning LLC raised its position in Gabelli Convertible & Income Securities Fund by 7.2% in the second quarter. Mallini Complete Financial Planning LLC now owns 59,679 shares of the investment management company’s stock worth $279,000 after purchasing an additional 3,996 shares in the last quarter. Benjamin Edwards Inc. raised its position in Gabelli Convertible & Income Securities Fund by 8.5% in the second quarter. Benjamin Edwards Inc. now owns 37,039 shares of the investment management company’s stock worth $173,000 after purchasing an additional 2,907 shares in the last quarter. Bank of America Corp DE bought a new position in Gabelli Convertible & Income Securities Fund during the second quarter worth about $131,000. Finally, Integrity Advisory Solutions LLC acquired a new stake in Gabelli Convertible & Income Securities Fund during the fourth quarter valued at approximately $48,000. Institutional investors own 23.40% of the company’s stock.

Gabelli Convertible & Income Securities Fund Company Profile

Gabelli Convertible & Income Securities Fund is a publicly traded closed-end investment company listed on the New York Stock Exchange under the symbol GCV. The fund is managed by Gabelli Funds, LLC, an affiliate of GAMCO Investors, Inc

The fund seeks to provide investors with a combination of current income and capital appreciation. It invests primarily in convertible securities, which may offer income and the potential to participate in equity-market gains, along with other income-producing securities such as corporate bonds, preferred stocks and common stocks.

GCV may invest in securities issued by companies in a range of industries and geographic markets, including the United States and international markets.