High Income Securities Fund (NYSE:PCF) to Issue Monthly Dividend of $0.06

High Income Securities Fund (NYSE:PCF) announced a monthly dividend on Wednesday, July 1st. Investors of record on Tuesday, August 18th will be given a dividend of 0.058 per share by the financial services provider on Monday, August 31st. This represents a c) annualized dividend and a yield of 12.5%. The ex-dividend date is Tuesday, August 18th.

High Income Securities Fund Trading Down 0.7%

Shares of PCF stock opened at $5.56 on Thursday. High Income Securities Fund has a fifty-two week low of $5.36 and a fifty-two week high of $6.51. The stock has a 50 day simple moving average of $5.59 and a two-hundred day simple moving average of $5.80.

Insider Activity at High Income Securities Fund

In other news, insider Phillip Goldstein acquired 5,088 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was bought at an average price of $5.45 per share, with a total value of $27,729.60. Following the completion of the acquisition, the insider directly owned 46,441 shares of the company’s stock, valued at approximately $253,103.45. The trade was a 12.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PCF. Raymond James Financial Inc. increased its stake in shares of High Income Securities Fund by 15.9% in the third 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. increased its stake 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 worth $1,761,000 after buying an additional 17,913 shares in the last quarter. Saba Capital Management L.P. purchased a new stake in High Income Securities Fund in the 1st quarter worth $983,000. Absolute Investment Advisers LLC bought a new stake in High Income Securities Fund during the fourth quarter valued at about $1,027,000. Finally, Rivernorth Capital Management LLC lifted its position in shares of 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 valued at $566,000 after acquiring an additional 50,003 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors.

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.