Short Interest in High Income Securities Fund (NYSE:PCF) Drops By 18.1%

High Income Securities Fund (NYSE:PCF) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 132,400 shares, a decline of 18.1% from the February 28th total of 161,600 shares. Based on an average daily volume of 90,100 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.7% of the shares of the stock are sold short.

High Income Securities Fund Trading Down 0.2 %

PCF traded down $0.01 on Wednesday, hitting $6.60. The company had a trading volume of 35,640 shares, compared to its average volume of 129,943. The business’s fifty day simple moving average is $6.71 and its 200 day simple moving average is $6.70. 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 business also recently announced a dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd were issued a $0.0593 dividend. This represents a dividend yield of 10.68%. The ex-dividend date of this dividend was Tuesday, January 21st.

Insider Transactions at High Income Securities Fund

In other High Income Securities Fund news, Director Phillip Goldstein sold 19,296 shares of High Income Securities Fund stock in a transaction 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 of the company’s stock, valued at $48,776.04. This trade represents a 73.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. SeaCrest Wealth Management LLC boosted its position in shares of High Income Securities Fund by 4.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 43,295 shares of the financial services provider’s stock valued at $283,000 after buying an additional 1,804 shares during the period. Wells Fargo & Company MN raised its stake in shares of High Income Securities Fund by 15.9% during the fourth quarter. Wells Fargo & Company MN now owns 75,567 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 10,370 shares in the last quarter. Noble Wealth Management PBC bought a new position in High Income Securities Fund in the fourth quarter worth approximately $70,000. Total Wealth Planning & Management Inc. bought a new stake in High Income Securities Fund during the 4th quarter valued at $80,000. Finally, L.M. Kohn & Company purchased a new stake in shares of High Income Securities Fund in the 3rd quarter worth $94,000. 16.64% of the stock is owned by hedge funds and other institutional investors.

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.