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

High Income Securities Fund (NYSE:PCF) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 132,400 shares, a decrease of 18.1% from the February 28th total of 161,600 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 90,100 shares, the short-interest ratio is currently 1.5 days.

High Income Securities Fund Stock Performance

PCF stock traded down $0.03 during mid-day trading on Tuesday, reaching $6.62. 14,560 shares of the company’s stock were exchanged, compared to its average volume of 130,804. High Income Securities Fund has a 12-month low of $6.19 and a 12-month high of $7.00. The stock’s 50 day moving average is $6.71 and its 200 day moving average is $6.70.

High Income Securities Fund Cuts Dividend

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

Insider Activity

In related news, Director Phillip Goldstein sold 19,296 shares of the firm’s stock in a transaction 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 in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. L.M. Kohn & Company purchased a new stake in shares of High Income Securities Fund during the third quarter worth approximately $94,000. Rivernorth Capital Management LLC purchased a new position in High Income Securities Fund during the third quarter worth about $7,852,000. Quarry LP lifted its holdings in High Income Securities Fund by 502,860.0% in the third quarter. Quarry LP now owns 50,296 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 50,286 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in shares of High Income Securities Fund by 4.3% in the 4th quarter. SeaCrest Wealth Management LLC now owns 43,295 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 1,804 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new position in High Income Securities Fund during the fourth quarter worth about $70,000. Institutional investors and hedge funds 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.