Short Interest in High Income Securities Fund (NYSE:PCF) Increases By 81.2%

High Income Securities Fund (NYSE:PCF) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 45,687 shares, a growth of 81.2% from the June 30th total of 25,220 shares. Based on an average trading volume of 59,307 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.2% of the shares of the company are short sold.

Hedge Funds Weigh In On High Income Securities Fund

Several large investors have recently bought and sold shares of PCF. Raymond James Financial Inc. lifted its stake in shares of High Income Securities Fund by 15.9% in the 3rd quarter. Raymond James Financial Inc. now owns 394,391 shares of the financial services provider’s stock worth $2,504,000 after acquiring an additional 54,163 shares during the period. Invesco Ltd. increased its stake in shares of High Income Securities Fund by 6.7% during the fourth quarter. Invesco Ltd. now owns 286,408 shares of the financial services provider’s stock valued at $1,761,000 after acquiring an additional 17,913 shares during the period. Saba Capital Management L.P. acquired a new position in shares of High Income Securities Fund during the first quarter valued at approximately $983,000. Absolute Investment Advisers LLC bought a new stake in High Income Securities Fund during the fourth quarter worth approximately $1,027,000. Finally, Rivernorth Capital Management LLC raised its holdings in High Income Securities Fund by 95.1% during the first quarter. Rivernorth Capital Management LLC now owns 102,563 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 50,003 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

High Income Securities Fund Price Performance

Shares of PCF traded down $0.01 during trading hours on Friday, reaching $5.29. 78,740 shares of the company’s stock traded hands, compared to its average volume of 73,289. High Income Securities Fund has a twelve month low of $5.23 and a twelve month high of $6.51. The business’s fifty day simple moving average is $5.49 and its two-hundred day simple moving average is $5.70.

High Income Securities Fund Announces Dividend

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

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.