High Income Securities Fund (NYSE:PCF) Stock Passes Below 50 Day Moving Average – Time to Sell?

High Income Securities Fund (NYSE:PCF)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.71 and traded as low as $6.61. High Income Securities Fund shares last traded at $6.62, with a volume of 36,157 shares changing hands.

High Income Securities Fund Price Performance

The company’s fifty day simple moving average is $6.71 and its 200 day simple moving average is $6.70.

High Income Securities Fund Cuts Dividend

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

Insider Transactions at High Income Securities Fund

In related news, Director Phillip Goldstein sold 19,296 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.84, for a total value of $131,984.64. Following the sale, the director now owns 7,131 shares in the company, valued at $48,776.04. This represents a 73.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of High Income Securities Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Noble Wealth Management PBC purchased a new stake in shares of High Income Securities Fund during the fourth quarter valued at approximately $70,000. Total Wealth Planning & Management Inc. bought a new stake in shares of High Income Securities Fund in the 4th quarter worth $80,000. L.M. Kohn & Company purchased a new position in shares of High Income Securities Fund in the third quarter worth $94,000. Naviter Wealth LLC bought a new position in shares of High Income Securities Fund during the fourth quarter valued at $99,000. Finally, HighTower Advisors LLC purchased a new stake in shares of High Income Securities Fund during the fourth quarter valued at $122,000. 16.64% of the stock is currently owned by institutional investors.

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.