Everstar Asset Management LLC Has $539,000 Stake in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

Everstar Asset Management LLC reduced its position in shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) by 14.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 141,570 shares of the investment management company’s stock after selling 24,391 shares during the period. Everstar Asset Management LLC’s holdings in The Gabelli Convertible and Income Securities Fund were worth $539,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GCV. World Investment Advisors LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund during the third quarter valued at $405,000. Janney Montgomery Scott LLC acquired a new stake in The Gabelli Convertible and Income Securities Fund during the 4th quarter worth about $178,000. Raymond James Financial Inc. purchased a new position in The Gabelli Convertible and Income Securities Fund during the 4th quarter valued at about $83,000. 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 valued at $73,000 after purchasing an additional 16,902 shares during the period. Finally, PFG Advisors lifted its position in shares of The Gabelli Convertible and Income Securities Fund by 4.7% in the fourth quarter. PFG Advisors now owns 82,789 shares of the investment management company’s stock worth $315,000 after purchasing an additional 3,739 shares in the last quarter. Hedge funds and other institutional investors own 23.40% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Stock Down 1.6 %

Shares of GCV opened at $3.73 on Monday. The company’s 50 day moving average price is $3.86 and its 200 day moving average price is $3.84. The Gabelli Convertible and Income Securities Fund Inc. has a 52 week low of $3.35 and a 52 week high of $4.34.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 12.87%.

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.