Short Interest in High Income Securities Fund (NYSE:PCF) Decreases By 23.6%
by Michael Walen · The Markets DailyHigh Income Securities Fund (NYSE:PCF – Get Free Report) saw a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 17,546 shares, a drop of 23.6% from the February 26th total of 22,958 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 118,664 shares, the days-to-cover ratio is presently 0.1 days.
Insider Activity at High Income Securities Fund
In other news, insider Phillip Goldstein bought 17,905 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average price of $5.46 per share, for a total transaction of $97,761.30. Following the completion of the transaction, the insider owned 41,353 shares of the company’s stock, valued at approximately $225,787.38. This trade represents a 76.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 37,047 shares of company stock worth $213,733 in the last 90 days. 1.60% of the stock is currently owned by insiders.
Institutional Trading of High Income Securities Fund
Several institutional investors and hedge funds have recently bought and sold shares of PCF. Tactive Advisors LLC boosted its stake in High Income Securities Fund by 18.3% during the 3rd quarter. Tactive Advisors LLC now owns 18,767 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 2,905 shares during the period. Integrity Advisory Solutions LLC raised its holdings in shares of High Income Securities Fund by 27.1% in the fourth quarter. Integrity Advisory Solutions LLC now owns 14,234 shares of the financial services provider’s stock valued at $88,000 after buying an additional 3,038 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its stake in shares of High Income Securities Fund by 11.5% during the third quarter. Kingstone Capital Partners Texas LLC now owns 30,791 shares of the financial services provider’s stock worth $196,000 after buying an additional 3,175 shares during the period. Samalin Investment Counsel LLC grew its holdings in shares of High Income Securities Fund by 6.1% during the fourth quarter. Samalin Investment Counsel LLC now owns 97,583 shares of the financial services provider’s stock worth $600,000 after buying an additional 5,607 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of High Income Securities Fund by 5.1% during the second quarter. Advisors Asset Management Inc. now owns 122,592 shares of the financial services provider’s stock worth $778,000 after buying an additional 5,945 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.
High Income Securities Fund Trading Down 0.2%
NYSE:PCF traded down $0.01 during mid-day trading on Monday, reaching $5.48. 109,668 shares of the stock were exchanged, compared to its average volume of 104,736. High Income Securities Fund has a 1 year low of $5.36 and a 1 year high of $6.65. The company has a 50 day simple moving average of $5.89 and a 200-day simple moving average of $6.11.
High Income Securities Fund Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.058 per share. The ex-dividend date is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%.
About High Income Securities Fund
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.