38,579 Shares in Gabelli Convertible & Income Securities Fund Inc. $GCV Purchased by Wolverine Asset Management LLC

Wolverine Asset Management LLC bought a new position in Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 38,579 shares of the investment management company’s stock, valued at approximately $148,000. Wolverine Asset Management LLC owned about 0.19% of Gabelli Convertible & Income Securities Fund at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. LPL Financial LLC raised its holdings in shares of Gabelli Convertible & Income Securities Fund by 1.4% in the 1st quarter. LPL Financial LLC now owns 687,166 shares of the investment management company’s stock worth $2,567,000 after acquiring an additional 9,723 shares during the last quarter. PFG Advisors increased its stake in Gabelli Convertible & Income Securities Fund by 12.8% in the 1st quarter. PFG Advisors now owns 93,421 shares of the investment management company’s stock valued at $349,000 after buying an additional 10,632 shares during the last quarter. Cetera Investment Advisers increased its stake in Gabelli Convertible & Income Securities Fund by 112.0% in the 1st quarter. Cetera Investment Advisers now owns 61,250 shares of the investment management company’s stock valued at $229,000 after buying an additional 32,355 shares during the last quarter. Mallini Complete Financial Planning LLC increased its stake in Gabelli Convertible & Income Securities Fund by 17.9% in the 2nd quarter. Mallini Complete Financial Planning LLC now owns 53,337 shares of the investment management company’s stock valued at $204,000 after buying an additional 8,093 shares during the last quarter. Finally, World Investment Advisors purchased a new stake in Gabelli Convertible & Income Securities Fund in the 2nd quarter valued at about $188,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

Gabelli Convertible & Income Securities Fund Trading Down 0.5%

NYSE:GCV opened at $4.34 on Tuesday. Gabelli Convertible & Income Securities Fund Inc. has a 52 week low of $3.01 and a 52 week high of $4.37. The firm has a 50-day moving average price of $4.19 and a two-hundred day moving average price of $3.92.

Gabelli Convertible & Income Securities Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th were paid a $0.12 dividend. This is a positive change from Gabelli Convertible & Income Securities Fund’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, September 16th. This represents a $0.48 annualized dividend and a yield of 11.1%.

Gabelli Convertible & 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.