High Income Securities Fund (NYSE:PCF) Short Interest Down 18.1% in March

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

Insider Activity at High Income Securities Fund

In related news, Director Phillip Goldstein sold 19,296 shares of the business’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 value of $131,984.64. Following the completion of the transaction, the director now owns 7,131 shares in the company, valued at $48,776.04. The trade was a 73.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On High Income Securities Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. L.M. Kohn & Company bought a new stake in shares of High Income Securities Fund in the third quarter worth about $94,000. Rivernorth Capital Management LLC bought a new stake in High Income Securities Fund during the 3rd quarter worth about $7,852,000. Quarry LP lifted 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 buying an additional 50,286 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of High Income Securities Fund by 4.3% during the 4th quarter. SeaCrest Wealth Management LLC now owns 43,295 shares of the financial services provider’s stock worth $283,000 after buying an additional 1,804 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of High Income Securities Fund in the fourth quarter valued at about $70,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

High Income Securities Fund Stock Down 0.2 %

Shares of PCF stock opened at $6.60 on Thursday. The firm’s 50 day moving average price is $6.71 and its two-hundred day moving average price is $6.70. High Income Securities Fund has a 52-week low of $6.19 and a 52-week high of $7.00.

High Income Securities Fund Cuts Dividend

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

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.