Trading volume for Gabelli Convertible and Income Securities was 60K on Tuesday. Trading volume was up 104.01% over the stocks average daily volume.
Investors are more bullish on the company lately if you pay attention to the downtick in short interest. The firm saw a fall in short interest of -4.40% as of the latest report on October 31, 2017. Short interest fell 2,999 over that timeframe. Days to cover decreased from 3.0 to 2.0 and the short interest percentage is 0.00% as of October 31.
Here is a rundown on some insider market activity for Gabelli Convertible and Income Securities (NYSE:GCV). Director Dugald A. Fletcher bought 9,050 shares at an average price of $5.50 on Mon the 28th. The Director now owns $126,766 of the stock as reported to the SEC.
A few notable investment firms have updated their holdings. As of the end of the quarter Morgan Stanley had disposed of 772 shares trimming its stake by 3.7%. The value of the company’s investment in Gabelli Convertible and Income Securities went from $103,000 to $104,000 a change of $1,000 for the reporting period. As of quarter end Ubs Group Ag had bought a total of 8,666 shares growing its holdings by 674.9%. The value of the investment in Gabelli Convertible and Income Securities increased from $6,000 to $51,000 increasing 750.0% quarter over quarter.
As of the end of the quarter Advisors Asset Management, Inc. had acquired a total of 215,838 shares growing its position 690.1%. The value of the investment in GCV went from $161,000 to $1,426,000 a change of 785.7% quarter to quarter. Wells Fargo & Company/mn bolstered its ownership by buying 300 shares an increase of 10.0% in the quarter. Wells Fargo & Company/mn now holds 3,300 shares worth $19,000. The total value of its holdings increased 26.7%.
The company is up since yesterday’s close of 5.66. The company’s P/E ratio is N/A and the market cap of the company is 81.66M.
The Gabelli Convertible and Income Securities Fund Inc. (the Fund), launched on December 19, 1988, is a diversified closed-end management investment company. The Fund’s investment objective is to seek a high level of total return through a combination of current income and capital appreciation by investing in convertible securities. The Fund will invest at least 80% of its net assets in a combination of convertible securities and income producing securities. It may invest up to 15% of its net assets in securities, for which the markets are illiquid..