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

Shares of The Gabelli Convertible and 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 $3.79 and traded as low as $3.79. The Gabelli Convertible and Income Securities Fund shares last traded at $3.83, with a volume of 24,864 shares changing hands.

The Gabelli Convertible and Income Securities Fund Price Performance

The stock has a 50 day simple moving average of $3.87 and a 200 day simple moving average of $3.79.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 12.37%. The ex-dividend date of this dividend was Friday, December 13th.

Hedge Funds Weigh In On The Gabelli Convertible and Income Securities Fund

Several hedge funds have recently made changes to their positions in the business. M&R Capital Management Inc. boosted its holdings in The Gabelli Convertible and Income Securities Fund by 316.9% in the third quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 5,904 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 3rd quarter worth about $39,000. Shaker Financial Services LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 3rd quarter valued at about $52,000. Finally, World Investment Advisors LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund during the third quarter valued at about $405,000. 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.