High Income Securities Fund (NYSE:PCF) Sees Significant Decrease in Short Interest

High Income Securities Fund (NYSE:PCF) saw a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 3,924 shares, a drop of 27.1% from the January 15th total of 5,383 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 67,197 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 67,197 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Insider Activity

In other High Income Securities Fund news, insider Phillip Goldstein purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was bought at an average price of $6.05 per share, with a total value of $60,500.00. Following the completion of the purchase, the insider directly owned 23,448 shares of the company’s stock, valued at $141,860.40. The trade was a 74.36% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have bought a total of 24,929 shares of company stock valued at $150,792 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On High Income Securities Fund

Several institutional investors have recently bought and sold shares of PCF. Baird Financial Group Inc. purchased a new stake in shares of High Income Securities Fund in the first quarter valued at $183,000. Absolute Investment Advisers LLC purchased a new position in shares of High Income Securities Fund in the 4th quarter valued at $1,027,000. Savvy Advisors Inc. bought a new position in High Income Securities Fund in the fourth quarter worth about $156,000. Integrity Advisory Solutions LLC purchased a new position in High Income Securities Fund in the third quarter worth $71,000. Finally, Samalin Investment Counsel LLC boosted its position in shares of High Income Securities Fund by 28.5% in the 3rd quarter. Samalin Investment Counsel LLC now owns 91,976 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 20,420 shares in the last quarter. Institutional investors own 16.64% of the company’s stock.

High Income Securities Fund Trading Up 0.9%

Shares of High Income Securities Fund stock traded up $0.06 during trading hours on Monday, reaching $6.13. 175,066 shares of the stock traded hands, compared to its average volume of 77,341. The company has a 50 day moving average price of $6.11 and a 200 day moving average price of $6.25. High Income Securities Fund has a one year low of $5.73 and a one year high of $6.89.

High Income Securities Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.058 dividend. This represents a c) annualized dividend and a dividend yield of 11.4%. The ex-dividend date is Tuesday, March 17th.

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.