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

High Income Securities Fund (NYSE:PCF - Get Free Report) saw a significant decrease in short interest in April. As of April 15th, there was short interest totalling 21,400 shares, a decrease of 83.6% from the March 31st total of 130,700 shares. Based on an average daily trading volume, of 75,500 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the shares of the stock are sold short.

Insider Transactions at High Income Securities Fund

In other High Income Securities Fund news, Director Moritz A. Sell purchased 4,487 shares of the firm's stock in a transaction on Monday, April 7th. The stock was purchased at an average cost of $5.97 per share, for a total transaction of $26,787.39. Following the transaction, the director now owns 11,033 shares in the company, valued at $65,867.01. The trade was a 68.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Phillip Goldstein sold 19,296 shares of High Income Securities Fund stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.84, for a total transaction of $131,984.64. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 6,376 shares of company stock worth $38,412. 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 added to or reduced their stakes in the company. Rivernorth Capital Management LLC bought a new stake in shares of High Income Securities Fund in the 3rd quarter valued at $7,890,000. SeaCrest Wealth Management LLC lifted its holdings in High Income Securities Fund by 4.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 43,295 shares of the financial services provider's stock valued at $283,000 after buying an additional 1,804 shares during the period. Noble Wealth Management PBC bought a new stake in High Income Securities Fund during the fourth quarter valued at $70,000. Raymond James Financial Inc. acquired a new stake in High Income Securities Fund during the 4th quarter worth about $1,256,000. Finally, Naviter Wealth LLC bought a new position in shares of High Income Securities Fund in the 4th quarter worth about $99,000. Institutional investors and hedge funds own 16.64% of the company's stock.

High Income Securities Fund Stock Up 1.9 %

PCF traded up $0.12 during midday trading on Friday, hitting $6.21. 48,406 shares of the company were exchanged, compared to its average volume of 124,983. The firm's 50 day moving average price is $6.48 and its 200-day moving average price is $6.61. High Income Securities Fund has a 1-year low of $5.73 and a 1-year high of $7.00.

High Income Securities Fund Announces Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be issued a $0.0593 dividend. This represents a yield of 11.68%. The ex-dividend date is Tuesday, April 22nd.

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.

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