High Income Securities Fund (NYSE:PCF) Shares Cross Below 50-Day Moving Average – Time to Sell?

High Income Securities Fund (NYSE:PCF)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.71 and traded as low as $6.61. High Income Securities Fund shares last traded at $6.62, with a volume of 36,157 shares trading hands.

High Income Securities Fund Stock Performance

The business has a 50 day moving average of $6.71 and a 200-day moving average of $6.70.

High Income Securities Fund Cuts Dividend

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

Insider Activity

In related news, Director Phillip Goldstein sold 19,296 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.84, for a total transaction of $131,984.64. Following the sale, the director now owns 7,131 shares of the company’s stock, valued at approximately $48,776.04. This represents a 73.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PCF. Noble Wealth Management PBC bought a new stake in High Income Securities Fund during the fourth quarter valued at $70,000. Total Wealth Planning & Management Inc. purchased a new stake in shares of High Income Securities Fund in the 4th quarter valued at about $80,000. L.M. Kohn & Company bought a new stake in shares of High Income Securities Fund during the 3rd quarter valued at about $94,000. Naviter Wealth LLC purchased a new position in shares of High Income Securities Fund during the fourth quarter worth about $99,000. Finally, HighTower Advisors LLC bought a new position in shares of High Income Securities Fund in the fourth quarter worth approximately $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.