High Income Securities Fund (NYSE:PCF) Stock Jumps 0.4% – Time to Buy?

Shares of High Income Securities Fund (NYSE:PCF) rose 0.4% during mid-day trading on Wednesday. The stock traded as high as $5.11 and last traded at $5.08. Approximately 103,236 shares changed hands during trading, an increase of 54% from the average daily volume of 67,226 shares. The stock had previously closed at $5.06.

High Income Securities Fund Stock Performance

The business’s 50-day moving average price is $5.20 and its two-hundred day moving average price is $5.53.

High Income Securities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 22nd will be issued a dividend of $0.0580 per share. This represents a $0.70 annualized dividend and a yield of 13.9%. The ex-dividend date of this dividend is Tuesday, December 22nd.

Hedge Funds Weigh In On High Income Securities Fund

Several large investors have recently modified their holdings of PCF. Saba Capital Management L.P. acquired a new position in shares of High Income Securities Fund in the 1st quarter valued at about $983,000. Total Wealth Planning & Management Inc. bought a new position in shares of High Income Securities Fund during the third quarter valued at approximately $371,000. Rivernorth Capital Management LLC grew its holdings in shares of 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 valued at $566,000 after purchasing an additional 50,003 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of High Income Securities Fund during the 3rd quarter worth approximately $150,000. Finally, Lido Advisors LLC acquired a new stake in shares of High Income Securities Fund during the 1st quarter worth approximately $66,000. Institutional investors own 16.64% of the company’s stock.

High Income Securities Fund Company Profile

High Income Securities Fund is a non-diversified closed-end management investment company listed on the New York Stock Exchange under the symbol PCF. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in income-producing securities, which may include high-yield corporate debt, preferred stocks, convertible securities, common stocks and other fixed-income or equity investments. Its portfolio may also include investments in closed-end funds, business development companies and other publicly traded securities, allowing the fund to pursue income and value-oriented opportunities across multiple asset classes.

The fund was formerly known as Putnam High Income Securities Fund and adopted its current name after its investment management structure changed.