High Income Securities Fund (NYSE:PCF) Short Interest Update

High Income Securities Fund (NYSE:PCF) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 161,600 shares, a growth of 280.2% from the February 13th total of 42,500 shares. Based on an average trading volume of 110,400 shares, the short-interest ratio is currently 1.5 days. Currently, 0.9% of the company’s stock are sold short.

Insiders Place Their Bets

In other High Income Securities Fund news, Director Gerald Hellerman acquired 10,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $6.66 per share, with a total value of $66,600.00. Following the transaction, the director now owns 14,325 shares of the company’s stock, valued at $95,404.50. The trade was a 231.21 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Phillip Goldstein sold 19,296 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $48,776.04. This trade represents a 73.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 13,624 shares of company stock worth $89,836 and have sold 19,669 shares worth $134,425. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On High Income Securities Fund

Institutional investors have recently bought and sold shares of the business. LPL Financial LLC grew its position in shares of High Income Securities Fund by 1,744.5% during the fourth quarter. LPL Financial LLC now owns 1,748,815 shares of the financial services provider’s stock valued at $11,420,000 after purchasing an additional 1,654,003 shares in the last quarter. Rivernorth Capital Management LLC purchased a new position in shares of High Income Securities Fund during the third quarter valued at about $7,890,000. Raymond James Financial Inc. purchased a new position in shares of High Income Securities Fund during the fourth quarter valued at about $1,256,000. Quarry LP grew its position in shares of High Income Securities Fund by 502,860.0% during the third quarter. Quarry LP now owns 50,296 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 50,286 shares in the last quarter. Finally, Harbour Investments Inc. purchased a new position in High Income Securities Fund in the third quarter worth about $333,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

High Income Securities Fund Stock Performance

PCF stock traded up $0.03 during midday trading on Friday, hitting $6.68. The company’s stock had a trading volume of 25,780 shares, compared to its average volume of 131,512. High Income Securities Fund has a 12 month low of $6.19 and a 12 month high of $7.00. The firm’s 50-day moving average is $6.69 and its 200-day moving average is $6.70.

High Income Securities Fund Cuts Dividend

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