Gabelli Convertible & Income Securities Fund (NYSE:GCV) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.54 and traded as low as $4.47. Gabelli Convertible & Income Securities Fund shares last traded at $4.5090, with a volume of 46,660 shares.

Gabelli Convertible & Income Securities Fund Price Performance

The company’s 50 day moving average is $4.60 and its 200-day moving average is $4.54.

Gabelli Convertible & Income Securities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 11.1%.

Institutional Trading of Gabelli Convertible & Income Securities Fund

A number of hedge funds have recently made changes to their positions in the stock. Benjamin Edwards Inc. grew its stake in shares of 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 acquiring an additional 2,907 shares during the last quarter. Mallini Complete Financial Planning LLC raised its position in shares of Gabelli Convertible & Income Securities Fund by 7.2% in the 2nd 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 during the last quarter. Integrity Advisory Solutions LLC purchased a new position in shares of Gabelli Convertible & Income Securities Fund in the 4th quarter worth about $48,000. Bank of America Corp DE bought a new position in Gabelli Convertible & Income Securities Fund in the 2nd quarter worth about $131,000. Finally, Equitable Holdings Inc. purchased a new stake in Gabelli Convertible & Income Securities Fund during the 2nd quarter valued at about $393,000. 23.40% of the stock is owned by institutional investors.

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.