Wolverine Asset Management LLC Increases Position in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV)

Wolverine Asset Management LLC raised its position in The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) by 170.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,088 shares of the investment management company’s stock after purchasing an additional 62,480 shares during the period. Wolverine Asset Management LLC’s holdings in The Gabelli Convertible and Income Securities Fund were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GCV. Commonwealth Equity Services LLC increased its position in shares of The Gabelli Convertible and Income Securities Fund by 27.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 49,048 shares of the investment management company’s stock valued at $184,000 after purchasing an additional 10,622 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at approximately $62,000. SFI Advisors LLC grew its position in shares of The Gabelli Convertible and Income Securities Fund by 13.1% in the 3rd quarter. SFI Advisors LLC now owns 62,325 shares of the investment management company’s stock valued at $234,000 after buying an additional 7,216 shares during the last quarter. MGO One Seven LLC purchased a new position in shares of The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at $45,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of The Gabelli Convertible and Income Securities Fund in the 3rd quarter valued at $95,000. 23.40% of the stock is owned by hedge funds and other institutional investors.

The Gabelli Convertible and Income Securities Fund Stock Up 1.1 %

NYSE GCV opened at $3.53 on Friday. The firm’s fifty day moving average price is $3.62 and its 200 day moving average price is $3.57. The Gabelli Convertible and Income Securities Fund Inc. has a 12 month low of $3.15 and a 12 month high of $4.58.

The Gabelli Convertible and Income Securities Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 13.60%. The ex-dividend date of this dividend was Wednesday, March 13th.

The Gabelli Convertible and Income Securities Fund Company 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.