Gabelli Convertbl and Incm Scrts Fnd (NYSE:GCV) Share Price Crosses Above 50 Day Moving Average of $5.96

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Gabelli Convertbl and Incm Scrts Fnd Inc (NYSE:GCV) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.96 and traded as high as $6.13. Gabelli Convertbl and Incm Scrts Fnd shares last traded at $6.13, with a volume of 58,804 shares trading hands.

The business’s 50 day simple moving average is $5.96 and its two-hundred day simple moving average is $5.63.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, March 16th. This represents a $0.48 dividend on an annualized basis and a yield of 7.83%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Allied Advisory Services Inc. purchased a new stake in Gabelli Convertbl and Incm Scrts Fnd during the 3rd quarter valued at $59,000. Morgan Stanley raised its stake in Gabelli Convertbl and Incm Scrts Fnd by 5.0% during the 2nd quarter. Morgan Stanley now owns 662,835 shares of the investment management company’s stock valued at $3,400,000 after buying an additional 31,359 shares during the last quarter. Stifel Financial Corp purchased a new stake in Gabelli Convertbl and Incm Scrts Fnd during the 4th quarter valued at $498,000. Advisors Asset Management Inc. raised its stake in Gabelli Convertbl and Incm Scrts Fnd by 17.7% during the 4th quarter. Advisors Asset Management Inc. now owns 897,398 shares of the investment management company’s stock valued at $5,250,000 after buying an additional 135,159 shares during the last quarter. Finally, Guggenheim Capital LLC purchased a new stake in Gabelli Convertbl and Incm Scrts Fnd during the 4th quarter valued at $1,067,000. Institutional investors and hedge funds own 12.90% of the company’s stock.

About Gabelli Convertbl and Incm Scrts Fnd (NYSE:GCV)

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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