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

High Income Securities Fund (NYSE:PCF) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 7,463 shares, a drop of 62.3% from the March 31st total of 19,788 shares. Based on an average daily volume of 88,509 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Insider Activity

In other news, insider Phillip Goldstein acquired 17,905 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were bought at an average price of $5.46 per share, with a total value of $97,761.30. Following the purchase, the insider owned 41,353 shares of the company’s stock, valued at approximately $225,787.38. This represents a 76.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders acquired 41,107 shares of company stock worth $234,769. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On High Income Securities Fund

Several hedge funds have recently made changes to their positions in the business. Live Oak Private Wealth LLC acquired a new stake in High Income Securities Fund during the first quarter valued at approximately $97,000. Tactive Advisors LLC grew its position in High Income Securities Fund by 21.9% in the first quarter. Tactive Advisors LLC now owns 21,007 shares of the financial services provider’s stock worth $116,000 after buying an additional 3,780 shares during the last quarter. Integrity Advisory Solutions LLC increased its holdings in shares of High Income Securities Fund by 27.1% in the fourth quarter. Integrity Advisory Solutions LLC now owns 14,234 shares of the financial services provider’s stock valued at $88,000 after buying an additional 3,038 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in shares of High Income Securities Fund by 41.6% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 71,152 shares of the financial services provider’s stock valued at $438,000 after buying an additional 20,915 shares in the last quarter. Finally, Samalin Investment Counsel LLC lifted its position in shares of High Income Securities Fund by 6.1% during the 4th quarter. Samalin Investment Counsel LLC now owns 97,583 shares of the financial services provider’s stock valued at $600,000 after acquiring an additional 5,607 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

High Income Securities Fund Trading Down 1.6%

PCF stock traded down $0.09 during trading hours on Monday, hitting $5.65. 92,493 shares of the stock traded hands, compared to its average volume of 75,144. The stock has a 50-day simple moving average of $5.71 and a 200 day simple moving average of $6.01. High Income Securities Fund has a one year low of $5.36 and a one year high of $6.51.

High Income Securities Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.058 per share. The ex-dividend date is Tuesday, June 16th. This represents a c) annualized dividend and a dividend yield of 12.3%.

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.