High Income Securities Fund (NYSE:PCF – Get Free Report) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 58,700 shares, a decrease of 38.7% from the December 15th total of 95,700 shares. Based on an average daily volume of 143,700 shares, the days-to-cover ratio is currently 0.4 days.
High Income Securities Fund Stock Up 0.3 %
Shares of PCF traded up $0.02 during trading hours on Tuesday, reaching $6.53. 35,060 shares of the company traded hands, compared to its average volume of 108,434. The stock has a fifty day simple moving average of $6.65 and a 200 day simple moving average of $6.67. High Income Securities Fund has a fifty-two week low of $6.19 and a fifty-two week high of $7.00.
High Income Securities Fund Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.0593 per share. This represents a $0.71 annualized dividend and a dividend yield of 10.90%. The ex-dividend date is Tuesday, March 18th.
Insider Activity
Institutional Trading of High Income Securities Fund
Several hedge funds and other institutional investors have recently bought and sold shares of the company. SeaCrest Wealth Management LLC boosted its holdings in shares of High Income Securities Fund by 4.3% in the 4th quarter. SeaCrest Wealth Management LLC now owns 43,295 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 1,804 shares during the last quarter. Rivernorth Capital Management LLC purchased a new stake in High Income Securities Fund during the third quarter valued at about $7,890,000. Quarry LP increased its stake in High Income Securities Fund by 502,860.0% during the third quarter. Quarry LP now owns 50,296 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 50,286 shares during the last quarter. L.M. Kohn & Company purchased a new position in shares of High Income Securities Fund in the 3rd quarter worth about $94,000. Finally, Harbour Investments Inc. acquired a new position in shares of High Income Securities Fund in the 3rd quarter valued at about $333,000. 16.64% of the stock is owned by hedge funds and other institutional investors.
About High Income Securities Fund
High Income Securities Fund is a closed-ended balanced income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.
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