PFG Advisors Acquires 3,739 Shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

PFG Advisors lifted its holdings in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,789 shares of the investment management company’s stock after buying an additional 3,739 shares during the period. PFG Advisors’ holdings in The Gabelli Convertible and Income Securities Fund were worth $315,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Cornerstone Advisors LLC increased its holdings in shares of The Gabelli Convertible and Income Securities Fund by 769.3% in the 4th quarter. Cornerstone Advisors LLC now owns 19,099 shares of the investment management company’s stock worth $73,000 after buying an additional 16,902 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter worth about $83,000. Janney Montgomery Scott LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 4th quarter worth about $178,000. Finally, World Investment Advisors LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 3rd quarter worth about $405,000. 23.40% of the stock is currently owned by institutional investors.

The Gabelli Convertible and Income Securities Fund Trading Up 2.0 %

Shares of NYSE:GCV opened at $3.88 on Friday. The Gabelli Convertible and Income Securities Fund Inc. has a 12 month low of $3.35 and a 12 month high of $4.34. The firm’s 50-day moving average is $3.87 and its 200 day moving average is $3.86.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be issued a dividend of $0.12 per share. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 12.38%.

About The Gabelli Convertible and Income Securities Fund

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.