High Income Securities Fund (NYSE:PCF) Short Interest Update

High Income Securities Fund (NYSE:PCF) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 161,600 shares, a growth of 280.2% from the February 13th total of 42,500 shares. Based on an average daily volume of 110,400 shares, the short-interest ratio is presently 1.5 days. Approximately 0.9% of the company’s stock are short sold.

Insider Activity at High Income Securities Fund

In other High Income Securities Fund news, Director Phillip Goldstein sold 19,296 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.84, for a total transaction of $131,984.64. Following the sale, the director now owns 7,131 shares of the company’s stock, valued at approximately $48,776.04. This trade represents a 73.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald Hellerman bought 10,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of $6.66 per share, for a total transaction of $66,600.00. Following the transaction, the director now directly owns 14,325 shares of the company’s stock, valued at approximately $95,404.50. This represents a 231.21 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 13,624 shares of company stock worth $89,836 and sold 19,669 shares worth $134,425. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On High Income Securities Fund

A number of institutional investors have recently modified their holdings of PCF. LPL Financial LLC raised its position in shares of High Income Securities Fund by 1,744.5% in the 4th quarter. LPL Financial LLC now owns 1,748,815 shares of the financial services provider’s stock worth $11,420,000 after buying an additional 1,654,003 shares during the period. Rivernorth Capital Management LLC purchased a new position in shares of High Income Securities Fund in the 3rd quarter worth about $7,890,000. Raymond James Financial Inc. acquired a new position in shares of High Income Securities Fund in the 4th quarter valued at about $1,256,000. Wells Fargo & Company MN grew its holdings in shares of High Income Securities Fund by 15.9% during the 4th quarter. Wells Fargo & Company MN now owns 75,567 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 10,370 shares during the period. Finally, Quarry LP increased its position in High Income Securities Fund by 502,860.0% during the 3rd quarter. Quarry LP now owns 50,296 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 50,286 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

High Income Securities Fund Stock Performance

Shares of NYSE:PCF opened at $6.65 on Thursday. High Income Securities Fund has a one year low of $6.19 and a one year high of $7.00. The business’s fifty day moving average price is $6.69 and its two-hundred day moving average price is $6.70.

High Income Securities Fund Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd were paid a dividend of $0.0593 per share. The ex-dividend date was Tuesday, January 21st. This represents a dividend yield of 10.68%.

High Income Securities Fund Company Profile

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.