Short Interest in High Income Securities Fund (NYSE:PCF) Declines By 35.5%

High Income Securities Fund (NYSE:PCF) saw a large decline in short interest in February. As of February 15th, there was short interest totalling 42,500 shares, a decline of 35.5% from the January 31st total of 65,900 shares. Based on an average trading volume of 135,100 shares, the days-to-cover ratio is presently 0.3 days.

Insider Buying and Selling at High Income Securities Fund

In other news, Director Gerald Hellerman bought 10,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was bought at an average cost of $6.66 per share, with a total value of $66,600.00. Following the transaction, the director now directly owns 14,325 shares in the company, valued at $95,404.50. The trade was a 231.21 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Phillip Goldstein sold 19,296 shares of High Income Securities Fund stock in a transaction dated 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 directly owns 7,131 shares of the company’s stock, valued at approximately $48,776.04. This represents a 73.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 13,624 shares of company stock valued at $89,836 and sold 19,669 shares valued at $134,425. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On High Income Securities Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Noble Wealth Management PBC acquired a new position in shares of High Income Securities Fund during the fourth quarter worth about $70,000. Total Wealth Planning & Management Inc. acquired a new position in shares of High Income Securities Fund during the fourth quarter worth about $80,000. L.M. Kohn & Company acquired a new position in shares of High Income Securities Fund during the third quarter worth about $94,000. Naviter Wealth LLC acquired a new position in shares of High Income Securities Fund during the fourth quarter worth about $99,000. Finally, HighTower Advisors LLC purchased a new stake in High Income Securities Fund during the fourth quarter worth approximately $122,000. 16.64% of the stock is owned by institutional investors and hedge funds.

High Income Securities Fund Stock Performance

Shares of High Income Securities Fund stock traded down $0.03 on Tuesday, reaching $6.80. 76,762 shares of the company were exchanged, compared to its average volume of 131,118. High Income Securities Fund has a 1-year low of $6.19 and a 1-year high of $7.00. The stock’s 50 day moving average price is $6.66 and its 200-day moving average price is $6.70.

High Income Securities Fund Cuts Dividend

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

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.