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

Wolverine Asset Management LLC acquired a new stake in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,573 shares of the investment management company’s stock, valued at approximately $39,000. Wolverine Asset Management LLC owned 0.05% of The Gabelli Convertible and Income Securities Fund at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its holdings in The Gabelli Convertible and Income Securities Fund by 91.7% during the first quarter. Janney Montgomery Scott LLC now owns 24,248 shares of the investment management company’s stock worth $90,000 after purchasing an additional 11,597 shares during the period. Cornerstone Advisors LLC boosted its stake 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 during the period. Hoylecohen LLC acquired a new position in shares of The Gabelli Convertible and Income Securities Fund during the 2nd quarter worth approximately $128,000. M&R Capital Management Inc. raised its stake in The Gabelli Convertible and Income Securities Fund by 316.9% in the 3rd quarter. M&R Capital Management Inc. now owns 7,767 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 5,904 shares during the period. Finally, Shaker Financial Services LLC acquired a new stake in The Gabelli Convertible and Income Securities Fund during the 3rd quarter valued at $52,000. 23.40% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Convertible and Income Securities Fund Trading Down 1.3 %

NYSE:GCV opened at $3.80 on Friday. The firm’s fifty day moving average price is $3.80 and its two-hundred day moving average price is $3.72. The Gabelli Convertible and Income Securities Fund Inc. has a one year low of $3.33 and a one year high of $4.34.

The Gabelli Convertible and Income Securities Fund Dividend Announcement

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

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 stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $4.00, for a total transaction of $32,000.00. Following the transaction, the insider now owns 1,092,000 shares in the company, valued at approximately $4,368,000. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 12,669 shares of company stock valued at $49,549 in the last three months. 0.78% of the stock is currently owned by company insiders.

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.