High Income Securities Fund (NYSE:PCF) Sees Large Decline in Short Interest

High Income Securities Fund (NYSE:PCF) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 5,383 shares, a decrease of 77.6% from the December 31st total of 24,072 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 74,053 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 74,053 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

High Income Securities Fund Stock Down 0.1%

High Income Securities Fund stock traded down $0.01 during trading hours on Thursday, hitting $6.11. 56,661 shares of the company traded hands, compared to its average volume of 62,299. High Income Securities Fund has a 1-year low of $5.73 and a 1-year high of $6.89. The firm’s 50-day simple moving average is $6.14 and its two-hundred day simple moving average is $6.27.

High Income Securities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.058 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) annualized dividend and a yield of 11.4%.

Hedge Funds Weigh In On High Income Securities Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCF. NBC Securities Inc. bought a new stake in shares of High Income Securities Fund in the 4th quarter worth $185,000. Absolute Investment Advisers LLC acquired a new position in High Income Securities Fund during the fourth quarter worth about $1,027,000. Savvy Advisors Inc. bought a new stake in High Income Securities Fund in the fourth quarter worth about $156,000. Raymond James Financial Inc. raised its position in High Income Securities Fund by 15.9% in the third quarter. Raymond James Financial Inc. now owns 394,391 shares of the financial services provider’s stock worth $2,504,000 after acquiring an additional 54,163 shares in the last quarter. Finally, Integrity Advisory Solutions LLC acquired a new stake in High Income Securities Fund in the 3rd quarter valued at about $71,000. 16.64% of the stock is owned by institutional investors.

High Income Securities Fund Company Profile

High Income Securities Fund (NYSE: PCF) is a closed-end management investment company dedicated to delivering a high level of total return, with an emphasis on current income. The fund invests primarily in a diversified portfolio of below-investment-grade debt securities, including corporate high-yield bonds, bank loans and other fixed-income instruments. While the majority of its holdings are denominated in U.S. dollars, the fund may also invest in non-U.S. issuers and currency exposures as part of its global credit strategy.

To pursue its objectives, PCF may employ leverage in the form of borrowings and preferred stock issuance, enhancing its capacity to generate income but also introducing additional risk.