Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) Shares Shorted: Short Interest Down 88.5% in October

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) was the recipient of a large decline in short interest in October. As of October 30th, there was short interest totaling 4,908 shares, a decline of 88.5% from the October 15th total of 42,773 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 74,568 shares, the days-to-cover ratio is currently 0.1 days.

Gabelli Convertible & Income Securities Fund Stock Performance

Shares of GCV traded up $0.04 during trading hours on Wednesday, hitting $3.88. The stock had a trading volume of 38,180 shares, compared to its average volume of 56,954. The firm has a 50-day moving average price of $4.16 and a 200 day moving average price of $4.44. Gabelli Convertible & Income Securities Fund has a fifty-two week low of $3.50 and a fifty-two week high of $4.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Equitable Holdings Inc. acquired a new position in shares of Gabelli Convertible & Income Securities Fund in the second quarter worth about $393,000. Mallini Complete Financial Planning LLC boosted its stake in shares of Gabelli Convertible & Income Securities Fund by 7.2% during the 2nd quarter. Mallini Complete Financial Planning LLC now owns 59,679 shares of the investment management company’s stock worth $279,000 after acquiring an additional 3,996 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Gabelli Convertible & Income Securities Fund by 8.5% during the 2nd 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 in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Gabelli Convertible & Income Securities Fund during the 2nd quarter worth about $131,000. Hedge funds and other institutional investors own 23.40% of the company’s stock.

Gabelli Convertible & Income Securities Fund Company Profile

Gabelli Convertible & Income Securities Fund (NYSE: GCV) is a closed-end investment company managed by Gabelli Funds, LLC. The fund seeks to provide a high level of current income while also pursuing capital appreciation by investing primarily in convertible securities and other income-producing investments. The fund’s portfolio may include convertible bonds, convertible preferred stocks, corporate debt securities, preferred securities and other fixed-income investments. Convertible securities generally provide regular income while offering the potential to participate in the equity performance of the issuing company.