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

High Income Securities Fund (NYSE:PCF - Get Free Report) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 161,600 shares, an increase of 280.2% from the February 13th total of 42,500 shares. Based on an average trading volume of 110,400 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.9% of the shares of the company are short sold.

High Income Securities Fund Stock Up 0.4 %

PCF stock traded up $0.03 during mid-day trading on Monday, reaching $6.71. 71,450 shares of the company traded hands, compared to its average volume of 131,662. High Income Securities Fund has a 52-week low of $6.19 and a 52-week high of $7.00. The company has a fifty day moving average price of $6.69 and a 200-day moving average price of $6.70.

High Income Securities Fund Cuts Dividend

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

Insider Buying and Selling

In other High Income Securities Fund news, Director Phillip Goldstein sold 19,296 shares of High Income Securities Fund stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.84, for a total transaction of $131,984.64. Following the completion of the transaction, the director now owns 7,131 shares of the company's stock, valued at $48,776.04. The trade was a 73.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 19,669 shares of company stock valued at $134,425. 1.60% of the stock is owned by insiders.

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Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PCF. Harbour Investments Inc. purchased a new position in High Income Securities Fund during the 3rd quarter valued at about $333,000. L.M. Kohn & Company bought a new stake in shares of High Income Securities Fund during the 3rd quarter valued at about $94,000. Rivernorth Capital Management LLC purchased a new position in shares of High Income Securities Fund during the third quarter worth about $7,852,000. Quarry LP increased its position in shares of 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 worth $344,000 after purchasing an additional 50,286 shares during the last quarter. Finally, SeaCrest Wealth Management LLC increased its position in shares of 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 worth $283,000 after purchasing an additional 1,804 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company's stock.

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.