High Income Securities Fund (NYSE:PCF) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

High Income Securities Fund (NYSE:PCF) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.44 and traded as high as $5.50. High Income Securities Fund shares last traded at $5.4650, with a volume of 82,919 shares trading hands.

High Income Securities Fund Price Performance

The company’s 50 day simple moving average is $5.44 and its two-hundred day simple moving average is $5.64.

High Income Securities Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be paid a $0.058 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%.

Institutional Trading of High Income Securities Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. increased its position in High Income Securities Fund by 15.9% in the 3rd quarter. Raymond James Financial Inc. now owns 394,391 shares of the financial services provider’s stock worth $2,504,000 after purchasing an additional 54,163 shares during the last quarter. Invesco Ltd. grew its stake in shares of 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 buying an additional 17,913 shares in the last quarter. Saba Capital Management L.P. bought a new stake in shares of High Income Securities Fund in the 1st quarter valued at approximately $983,000. Absolute Investment Advisers LLC acquired a new position in shares of High Income Securities Fund during the 4th quarter worth $1,027,000. Finally, Rivernorth Capital Management LLC boosted its holdings in High Income Securities Fund by 95.1% in the first 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 in the last quarter. 16.64% of the stock is currently owned by hedge funds and other 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.