Defender Jon Flanagan joined Championship side Bolton while Hull swooped for Harry Wilson, who earlier in the day penned a new long-term deal at Anfield.
Lazar Markovic has also been shipped out to Anderlecht of the Belgian top flight.
All three players have moved to their respective new clubs on loan until the end of the season.
Liverpool also sent Ovie Ejaria to Sunderland earlier in the day but failed to bring in any new faces, despite selling Philippe Coutinho for £142million earlier this month.
Flanagan, who is a fan favourite with the Reds, has struggled with a long-term injury.
However, Jurgen Klopp is hoping he will rebuild his fitness while at Bolton.
Wilson, who joined Hull, has yet to make a senior appearance for Liverpool but did spend 2015 at Crewe, where he featured on seven occasions.
Markovic joined the Reds for £20million in 2014 but it is expected that his future now lies away from Anfield.