The Gabelli Convertible and Income Securities Fund (NYSE:GCV) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-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 200 day simple moving average is $3.69.

The Gabelli Convertible and Income Securities Fund Announces Dividend

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

Insider Buying and Selling at The Gabelli Convertible and Income Securities Fund

In other The Gabelli Convertible and Income Securities Fund news, insider Mario J. Gabelli sold 8,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $4.00, for a total transaction of $32,000.00. Following the transaction, the insider now directly owns 1,092,000 shares in the company, valued at $4,368,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 11,093 shares of company stock worth $43,656 over the last ninety days. Insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in The Gabelli Convertible and Income Securities Fund during the 4th quarter valued at $225,000. Janney Montgomery Scott LLC increased its position in The Gabelli Convertible and Income Securities Fund by 91.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock valued at $90,000 after purchasing an additional 11,597 shares during the period. PFG Advisors increased its position in 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 purchasing an additional 3,185 shares during the period. Cornerstone Advisors LLC increased its position in The Gabelli Convertible and Income Securities Fund by 53.0% during the 1st quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock valued at $95,000 after purchasing an additional 8,897 shares during the period. Finally, Hoylecohen LLC purchased a new position in The Gabelli Convertible and Income Securities Fund during the 2nd quarter valued at $128,000. 23.40% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Convertible and Income Securities Fund Company Profile

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.