High Income Securities Fund (NYSE:PCF) Short Interest Up 106.6% in January

High Income Securities Fund (NYSE:PCF) saw a large growth in short interest in 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 volume of 135,200 shares, the short-interest ratio is currently 0.5 days.

Insider Activity

In other High Income Securities Fund news, Director Gerald Hellerman bought 10,000 shares of the stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $6.66 per share, with a total value of $66,600.00. Following the acquisition, the director now directly owns 14,325 shares of the company’s stock, valued at $95,404.50. This represents a 231.21 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders bought a total of 13,624 shares of company stock worth $89,836 in the last three months. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC increased its holdings in High Income Securities Fund by 6.0% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 41,491 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 2,356 shares in the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of High Income Securities Fund by 72,966.7% during the third quarter. McClarren Financial Advisors Inc. now owns 4,384 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 4,378 shares during the last quarter. Eastern Bank acquired a new stake in shares of High Income Securities Fund in the third quarter valued at $48,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of High Income Securities Fund in the third quarter valued at about $252,000. Finally, Harbour Investments Inc. acquired a new position in High Income Securities Fund during the 3rd quarter worth about $333,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

High Income Securities Fund Stock Performance

Shares of NYSE PCF traded up $0.01 during trading hours on Thursday, reaching $6.76. The stock had a trading volume of 43,721 shares, compared to its average volume of 88,339. The business’s fifty day moving average is $6.60 and its two-hundred day moving average is $6.67. High Income Securities Fund has a twelve month low of $6.19 and a twelve month high of $7.00.

High Income Securities Fund Cuts Dividend

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

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.