High Income Securities Fund (NYSE:PCF) Shares Up 0.6% – Here’s Why

High Income Securities Fund (NYSE:PCF) was up 0.6% on Friday . The stock traded as high as $6.45 and last traded at $6.42. Approximately 104,199 shares were traded during mid-day trading, an increase of 57% from the average daily volume of 66,255 shares. The stock had previously closed at $6.38.

High Income Securities Fund Price Performance

The firm has a 50-day moving average price of $6.38 and a two-hundred day moving average price of $6.42.

High Income Securities Fund Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.0593 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a yield of 1,107.0%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Total Wealth Planning & Management Inc. purchased a new position in shares of High Income Securities Fund during the fourth quarter worth $80,000. L.M. Kohn & Company purchased a new position in High Income Securities Fund in the first quarter valued at $92,000. Tactive Advisors LLC purchased a new position in High Income Securities Fund in the second quarter valued at $101,000. K2 Principal Fund L.P. purchased a new position in High Income Securities Fund in the first quarter valued at $111,000. Finally, Merit Financial Group LLC boosted its holdings in High Income Securities Fund by 11.2% in the first quarter. Merit Financial Group LLC now owns 16,958 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 1,711 shares during the period. 16.64% of the stock is currently 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.