Short Interest in High Income Securities Fund (NYSE:PCF) Increases By 106.6%

High Income Securities Fund (NYSE:PCF - Get Free Report) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 65,900 shares, a growth of 106.6% from the January 15th total of 31,900 shares. Based on an average daily trading volume, of 135,200 shares, the short-interest ratio is presently 0.5 days.

Insiders Place Their Bets

In related news, Director Gerald Hellerman acquired 10,000 shares of the stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $6.66 per share, for a total transaction of $66,600.00. Following the completion of the acquisition, the director now directly owns 14,325 shares of the company's stock, valued at approximately $95,404.50. This represents a 231.21 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 13,624 shares of company stock worth $89,836 over the last three months. Company insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On High Income Securities Fund

Hedge funds have recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its holdings in High Income Securities Fund by 72,966.7% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 4,384 shares of the financial services provider's stock worth $29,000 after acquiring an additional 4,378 shares during the last quarter. Eastern Bank bought a new stake in shares of High Income Securities Fund during the 3rd quarter valued at $48,000. Noble Wealth Management PBC bought a new stake in shares of High Income Securities Fund during the 4th quarter valued at $70,000. L.M. Kohn & Company bought a new stake in shares of High Income Securities Fund during the 3rd quarter valued at $94,000. Finally, Naviter Wealth LLC bought a new stake in shares of High Income Securities Fund during the 4th quarter valued at $99,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

High Income Securities Fund Price Performance

Shares of PCF stock traded up $0.09 during trading hours on Monday, hitting $6.85. 130,064 shares of the company's stock traded hands, compared to its average volume of 81,598. The stock's fifty day simple moving average is $6.61 and its two-hundred day simple moving average is $6.68. High Income Securities Fund has a 12-month low of $6.19 and a 12-month high of $7.00.

High Income Securities Fund Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd were issued 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%.

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.