High Income Securities Fund (NYSE:PCF) Stock Crosses Below Fifty Day Moving Average – Should You Sell?

High Income Securities Fund (NYSE:PCF)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.63 and traded as low as $5.46. High Income Securities Fund shares last traded at $5.51, with a volume of 83,035 shares traded.

High Income Securities Fund Trading Up 0.4%

The firm has a fifty day simple moving average of $5.63 and a 200 day simple moving average of $5.85.

High Income Securities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.058 per share. The ex-dividend date is Tuesday, June 16th. This represents a c) annualized dividend and a yield of 12.6%.

Insider Transactions at High Income Securities Fund

In other High Income Securities Fund news, insider Phillip Goldstein purchased 5,088 shares of the company’s stock in a transaction on Tuesday, April 7th. The shares were bought at an average cost of $5.45 per share, with a total value of $27,729.60. Following the transaction, the insider directly owned 46,441 shares in the company, valued at approximately $253,103.45. This represents a 12.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On High Income Securities Fund

Hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. increased its position in High Income Securities Fund by 15.9% during the third quarter. Raymond James Financial Inc. now owns 394,391 shares of the financial services provider’s stock worth $2,504,000 after acquiring an additional 54,163 shares during the period. Invesco Ltd. boosted its holdings in High Income Securities Fund by 6.7% in the 4th quarter. Invesco Ltd. now owns 286,408 shares of the financial services provider’s stock valued at $1,761,000 after purchasing an additional 17,913 shares during the period. Saba Capital Management L.P. acquired a new stake in High Income Securities Fund in the 1st quarter worth $983,000. Absolute Investment Advisers LLC acquired a new stake in High Income Securities Fund in the 4th quarter worth $1,027,000. Finally, Rivernorth Capital Management LLC increased its holdings in shares of High Income Securities Fund by 95.1% during the 1st quarter. Rivernorth Capital Management LLC now owns 102,563 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 50,003 shares during the period. 16.64% of the stock is owned by institutional investors.

High Income Securities Fund Company Profile

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.