High Income Securities Fund (NYSE:PCF) Share Price Passes Below 50 Day Moving Average – Time to Sell?

High Income Securities Fund (NYSE:PCF) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.63 and traded as low as $5.46. High Income Securities Fund shares last traded at $5.51, with a volume of 83,035 shares trading hands.

High Income Securities Fund Price Performance

The business has a 50 day moving average of $5.63 and a 200 day moving average of $5.85.

High Income Securities Fund Dividend Announcement

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 paid a $0.058 dividend. The ex-dividend date is Tuesday, June 16th. This represents a c) dividend on an annualized basis and a dividend yield of 12.6%.

Insider Activity at High Income Securities Fund

In other High Income Securities Fund news, insider Phillip Goldstein acquired 5,088 shares of High Income Securities Fund stock in a transaction dated Tuesday, April 7th. The stock was bought at an average cost of $5.45 per share, with a total value of $27,729.60. Following the acquisition, the insider owned 46,441 shares of the company’s stock, valued at approximately $253,103.45. The trade was a 12.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of High Income Securities Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lido Advisors LLC acquired a new position in High Income Securities Fund during the first quarter worth $66,000. Integrity Advisory Solutions LLC acquired a new stake in shares of High Income Securities Fund in the third quarter valued at $71,000. XTX Topco Ltd acquired a new stake in shares of High Income Securities Fund in the fourth quarter valued at $71,000. Bulldog Investors LLP raised its holdings in shares of High Income Securities Fund by 30.4% in the first quarter. Bulldog Investors LLP now owns 13,961 shares of the financial services provider’s stock valued at $77,000 after buying an additional 3,256 shares during the last quarter. Finally, Kovack Advisors Inc. bought a new position in shares of High Income Securities Fund in the fourth quarter valued at about $91,000. Institutional investors own 16.64% of the company’s stock.

High Income Securities Fund Company Profile

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.