Insider Selling: Gabelli Convertbl and Incm Scrts Fnd Inc (GCV) Insider Sells 5,000 Shares of Stock

Gabelli Convertbl and Incm Scrts Fnd Inc (NYSE:GCV) insider Mario J. Gabelli sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $5.75, for a total transaction of $28,750.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of Gabelli Convertbl and Incm Scrts Fnd stock traded up $0.01 on Friday, hitting $5.43. 28,800 shares of the company’s stock traded hands, compared to its average volume of 28,633. Gabelli Convertbl and Incm Scrts Fnd Inc has a one year low of $5.39 and a one year high of $6.95.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 14th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.84%. The ex-dividend date was Thursday, September 13th.

A hedge fund recently bought a new stake in Gabelli Convertbl and Incm Scrts Fnd stock. Cornerstone Wealth Management LLC acquired a new stake in Gabelli Convertbl and Incm Scrts Fnd Inc (NYSE:GCV) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 54,071 shares of the investment management company’s stock, valued at approximately $8,475,000. Cornerstone Wealth Management LLC owned approximately 0.38% of Gabelli Convertbl and Incm Scrts Fnd as of its most recent SEC filing. Institutional investors and hedge funds own 10.09% of the company’s stock.

About Gabelli Convertbl and Incm Scrts Fnd

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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