High Income Securities Fund (NYSE:PCF) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

High Income Securities Fund (NYSE:PCF)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.93 and traded as low as $5.54. High Income Securities Fund shares last traded at $5.5750, with a volume of 80,361 shares traded.

High Income Securities Fund Trading Down 0.4%

The firm’s fifty day moving average is $5.60 and its 200-day moving average is $5.92.

High Income Securities Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.058 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date of this dividend is Tuesday, June 16th.

Insider Activity at High Income Securities Fund

In other High Income Securities Fund news, insider Phillip Goldstein purchased 5,088 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were purchased at an average cost of $5.45 per share, for a total transaction of $27,729.60. Following the completion of the purchase, the insider directly owned 46,441 shares in the company, valued at $253,103.45. This represents a 12.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders purchased 23,593 shares of company stock valued at $128,809. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Raymond James Financial Inc. boosted its position in shares of High Income Securities Fund by 15.9% during 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 in the last quarter. Invesco Ltd. lifted its stake in shares of High Income Securities Fund by 6.7% in the fourth 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 shares of High Income Securities Fund in the first quarter valued at about $983,000. Absolute Investment Advisers LLC purchased a new stake in High Income Securities Fund during the fourth quarter worth about $1,027,000. Finally, Rivernorth Capital Management LLC boosted its holdings in High Income Securities Fund by 95.1% during the first quarter. Rivernorth Capital Management LLC now owns 102,563 shares of the financial services provider’s stock worth $566,000 after buying an additional 50,003 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

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.