High Income Securities Fund (NYSE:PCF) Short Interest Up 161.1% in February

High Income Securities Fund (NYSE:PCF) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 10,244 shares, a growth of 161.1% from the January 29th total of 3,924 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 93,017 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 93,017 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the stock are short sold.

High Income Securities Fund Stock Up 0.2%

Shares of High Income Securities Fund stock opened at $6.00 on Friday. The company has a 50-day moving average of $6.09 and a two-hundred day moving average of $6.23. High Income Securities Fund has a 12-month low of $5.73 and a 12-month high of $6.88.

High Income Securities Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.058 dividend. This represents a c) annualized dividend and a yield of 11.6%. The ex-dividend date of this dividend is Tuesday, March 17th.

Insider Activity at High Income Securities Fund

In related news, insider Phillip Goldstein acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were purchased at an average price of $6.05 per share, with a total value of $60,500.00. Following the completion of the acquisition, the insider owned 23,448 shares in the company, valued at approximately $141,860.40. This represents a 74.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 24,929 shares of company stock valued at $150,792 in the last ninety days. 1.60% of the stock is owned by company insiders.

Institutional Trading of High Income Securities Fund

A number of institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its holdings in High Income Securities Fund by 6.7% in the fourth quarter. Invesco Ltd. now owns 286,408 shares of the financial services provider’s stock valued at $1,761,000 after purchasing an additional 17,913 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of High Income Securities Fund in the 4th quarter worth about $71,000. Rivernorth Capital Management LLC acquired a new stake in High Income Securities Fund in the 4th quarter valued at about $323,000. Kovack Advisors Inc. purchased a new position in High Income Securities Fund during the 4th quarter valued at about $91,000. Finally, Osaic Holdings Inc. raised its position in High Income Securities Fund by 29.3% during the fourth quarter. Osaic Holdings Inc. now owns 83,956 shares of the financial services provider’s stock worth $516,000 after acquiring an additional 19,045 shares during the last quarter. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

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.