High Income Securities Fund (NYSE:PCF) to Issue Monthly Dividend of $0.06

High Income Securities Fund (NYSE:PCF) announced a monthly dividend on Monday, September 28th. Investors of record on Tuesday, November 17th will be given a dividend of $0.0580 per share by the financial services provider on Monday, November 30th. This represents a $0.70 annualized dividend and a yield of 13.4%. The ex-dividend date is Tuesday, November 17th.

High Income Securities Fund Trading Down 1.5%

Shares of PCF stock opened at $5.19 on Tuesday. High Income Securities Fund has a fifty-two week low of $5.13 and a fifty-two week high of $6.40. The stock has a 50 day simple moving average of $5.39 and a two-hundred day simple moving average of $5.51.

Institutional Investors Weigh In On High Income Securities Fund

Several hedge funds and other institutional investors have recently bought and sold shares of PCF. Saba Capital Management L.P. bought a new position in shares of High Income Securities Fund during the 1st quarter worth about $983,000. Rivernorth Capital Management LLC increased its position in High Income Securities Fund by 95.1% in the 1st quarter. Rivernorth Capital Management LLC now owns 102,563 shares of the financial services provider’s stock valued at $566,000 after buying an additional 50,003 shares in the last quarter. Live Oak Private Wealth LLC acquired a new position in High Income Securities Fund during the 1st quarter worth approximately $97,000. Lido Advisors LLC bought a new position in High Income Securities Fund in the first quarter worth approximately $66,000. Finally, Tactive Advisors LLC grew its stake 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 valued at $116,000 after acquiring an additional 3,780 shares during the period. 16.64% of the stock is owned by institutional investors.

About High Income Securities Fund

High Income Securities Fund (NYSE: PCF) is a diversified, closed-end management investment company. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The fund invests in a portfolio of income-producing securities, including corporate debt, high-yield bonds, loans, preferred stocks and other fixed-income or equity investments. Its portfolio may include securities issued by companies in a range of industries and may provide exposure to both U.S.