Short Interest in High Income Securities Fund (NYSE:PCF) Decreases By 35.5%

High Income Securities Fund (NYSE:PCF) was the target of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 42,500 shares, a drop of 35.5% from the January 31st total of 65,900 shares. Based on an average daily trading volume, of 135,100 shares, the days-to-cover ratio is currently 0.3 days.

High Income Securities Fund Price Performance

High Income Securities Fund stock traded up $0.01 during midday trading on Monday, hitting $6.83. 39,522 shares of the company’s stock were exchanged, compared to its average volume of 91,286. High Income Securities Fund has a 52-week low of $6.19 and a 52-week high of $7.00. The stock has a 50-day moving average price of $6.66 and a two-hundred day moving average price of $6.70.

High Income Securities Fund Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 22nd were given a dividend of $0.0593 per share. This represents a yield of 10.68%. The ex-dividend date of this dividend was Tuesday, January 21st.

Insiders Place Their Bets

In other High Income Securities Fund news, Director Phillip Goldstein sold 19,296 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.84, for a total value of $131,984.64. Following the completion of the sale, the director now directly owns 7,131 shares of the company’s stock, valued at $48,776.04. This trade represents a 73.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gerald Hellerman purchased 10,000 shares of High Income Securities Fund stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $6.66 per share, with a total value of $66,600.00. Following the completion of the transaction, the director now owns 14,325 shares of the company’s stock, valued at $95,404.50. This represents a 231.21 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 13,624 shares of company stock valued at $89,836 and sold 19,669 shares valued at $134,425. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On High Income Securities Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Noble Wealth Management PBC bought a new stake in High Income Securities Fund during the fourth quarter worth about $70,000. Total Wealth Planning & Management Inc. bought a new stake in High Income Securities Fund during the fourth quarter worth about $80,000. L.M. Kohn & Company bought a new stake in High Income Securities Fund during the third quarter worth about $94,000. Naviter Wealth LLC bought a new stake in High Income Securities Fund during the fourth quarter worth about $99,000. Finally, HighTower Advisors LLC bought a new stake in shares of High Income Securities Fund in the 4th quarter valued at about $122,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

About High Income Securities Fund

High Income Securities Fund is a closed-ended balanced income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.