Wolverine Asset Management LLC Acquires Shares of 10,573 The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

Wolverine Asset Management LLC bought a new position in shares of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) during the 3rd quarter, HoldingsChannel reports. The fund bought 10,573 shares of the investment management company’s stock, valued at approximately $39,000.

A number of other hedge funds also recently modified their holdings of the stock. Shaker Financial Services LLC bought a new stake in The Gabelli Convertible and Income Securities Fund during the third quarter worth about $52,000. M&R Capital Management Inc. lifted its holdings in shares of The Gabelli Convertible and Income Securities Fund by 316.9% during the 3rd quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock worth $29,000 after acquiring an additional 5,904 shares during the period. Hoylecohen LLC bought a new stake in shares of The Gabelli Convertible and Income Securities Fund during the 2nd quarter worth approximately $128,000. Cornerstone Advisors LLC boosted its position in shares of The Gabelli Convertible and Income Securities Fund by 53.0% during the 1st quarter. Cornerstone Advisors LLC now owns 25,697 shares of the investment management company’s stock worth $95,000 after acquiring an additional 8,897 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in The Gabelli Convertible and Income Securities Fund by 91.7% in the first quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock valued at $90,000 after acquiring an additional 11,597 shares during the last quarter. Institutional investors own 23.40% of the company’s stock.

Insider Buying and Selling at The Gabelli Convertible and Income Securities Fund

In other news, insider Mario J. Gabelli sold 8,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $4.00, for a total transaction of $32,000.00. Following the completion of the transaction, the insider now directly owns 1,092,000 shares in the company, valued at approximately $4,368,000. This represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 12,669 shares of company stock worth $49,549 over the last 90 days. Insiders own 0.78% of the company’s stock.

The Gabelli Convertible and Income Securities Fund Stock Performance

NYSE GCV opened at $3.80 on Friday. The business has a fifty day moving average price of $3.80 and a two-hundred day moving average price of $3.72. The Gabelli Convertible and Income Securities Fund Inc. has a fifty-two week low of $3.33 and a fifty-two week high of $4.34.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 12.63%. The ex-dividend date of this dividend was Monday, September 16th.

The Gabelli Convertible and Income Securities Fund 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.