High Income Securities Fund (NYSE:PCF) Shares Down 0.9% – What’s Next?

High Income Securities Fund (NYSE:PCF)’s stock price traded down 0.9% on Thursday . The stock traded as low as $5.23 and last traded at $5.31. Approximately 70,078 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 60,333 shares. The stock had previously closed at $5.36.

High Income Securities Fund Stock Performance

The company’s 50-day simple moving average is $5.52 and its 200-day simple moving average is $5.72.

High Income Securities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be issued a dividend of $0.058 per share. The ex-dividend date is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a yield of 13.1%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PCF. Lido Advisors LLC bought a new position in High Income Securities Fund during the first quarter worth $66,000. XTX Topco Ltd bought a new stake in shares of High Income Securities Fund in the fourth quarter valued at about $71,000. Bulldog Investors LLP increased its position in High Income Securities Fund by 30.4% during the first quarter. Bulldog Investors LLP now owns 13,961 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 3,256 shares during the period. Integrity Advisory Solutions LLC increased its holdings in shares of High Income Securities Fund by 27.1% during the fourth quarter. Integrity Advisory Solutions LLC now owns 14,234 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 3,038 shares during the period. Finally, Kovack Advisors Inc. acquired a new stake in High Income Securities Fund during the fourth quarter worth approximately $91,000. 16.64% of the stock is owned by institutional investors and hedge funds.

About High Income Securities Fund

High Income Securities Fund (NYSE: PCF) is a closed-end management investment company dedicated to delivering a high level of total return, with an emphasis on current income. The fund invests primarily in a diversified portfolio of below-investment-grade debt securities, including corporate high-yield bonds, bank loans and other fixed-income instruments. While the majority of its holdings are denominated in U.S. dollars, the fund may also invest in non-U.S. issuers and currency exposures as part of its global credit strategy.

To pursue its objectives, PCF may employ leverage in the form of borrowings and preferred stock issuance, enhancing its capacity to generate income but also introducing additional risk.