High Income Securities Fund (PCF) to Issue Monthly Dividend of $0.06 on April 30th

High Income Securities Fund (NYSE:PCF) declared a monthly dividend on Wednesday, April 3rd, Zacks reports. Stockholders of record on Friday, April 19th will be given a dividend of 0.062 per share by the financial services provider on Tuesday, April 30th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 11.70%. The ex-dividend date is Thursday, April 18th.

High Income Securities Fund has decreased its dividend by an average of 9.7% annually over the last three years and has increased its dividend every year for the last 1 years.

High Income Securities Fund Stock Down 1.2 %

NYSE PCF opened at $6.36 on Tuesday. The firm’s 50-day moving average is $6.64 and its two-hundred day moving average is $6.39. High Income Securities Fund has a 12 month low of $5.71 and a 12 month high of $6.96.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. boosted its holdings in High Income Securities Fund by 112.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 51,097 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 27,000 shares during the period. Raymond James & Associates grew its stake in shares of High Income Securities Fund by 12.8% in the first quarter. Raymond James & Associates now owns 65,889 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 7,489 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of High Income Securities Fund during the first quarter worth $221,000. Baird Financial Group Inc. boosted its holdings in High Income Securities Fund by 13.9% in the first quarter. Baird Financial Group Inc. now owns 132,758 shares of the financial services provider’s stock valued at $1,051,000 after purchasing an additional 16,249 shares during the period. Finally, NewEdge Advisors LLC grew its stake in High Income Securities Fund by 3.8% during the 1st quarter. NewEdge Advisors LLC now owns 124,300 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 4,600 shares in the last quarter. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

About High Income Securities Fund

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.