Short Interest in High Income Securities Fund (NYSE:PCF) Drops By 22.1%

High Income Securities Fund (NYSE:PCF) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 43,400 shares, a drop of 22.1% from the September 15th total of 55,700 shares. Based on an average daily trading volume, of 173,900 shares, the short-interest ratio is currently 0.2 days.

High Income Securities Fund Price Performance

Shares of NYSE PCF remained flat at $6.81 during mid-day trading on Monday. 70,431 shares of the company were exchanged, compared to its average volume of 123,156. High Income Securities Fund has a fifty-two week low of $5.71 and a fifty-two week high of $7.00. The company has a fifty day moving average of $6.69 and a two-hundred day moving average of $6.64.

High Income Securities Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.0622 per share. This represents a $0.75 annualized dividend and a dividend yield of 10.96%. The ex-dividend date of this dividend is Tuesday, December 17th.

Institutional Trading of High Income Securities Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sea Otter Advisors LLC bought a new stake in High Income Securities Fund in the second quarter worth about $70,000. Choreo LLC bought a new stake in shares of High Income Securities Fund in the 2nd quarter worth approximately $110,000. Blue Bell Private Wealth Management LLC lifted its stake in High Income Securities Fund by 452.4% during the second quarter. Blue Bell Private Wealth Management LLC now owns 16,770 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 13,734 shares during the last quarter. Raymond James & Associates boosted its holdings in High Income Securities Fund by 2.4% during the second quarter. Raymond James & Associates now owns 192,919 shares of the financial services provider’s stock worth $1,349,000 after buying an additional 4,485 shares in the last quarter. Finally, Gilman Hill Asset Management LLC boosted its holdings in High Income Securities Fund by 7.7% during the second quarter. Gilman Hill Asset Management LLC now owns 35,000 shares of the financial services provider’s stock worth $245,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 16.64% of the company’s stock.

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.