Short Interest in High Income Securities Fund (NYSE:PCF) Declines By 35.5%

High Income Securities Fund (NYSE:PCF) was the recipient of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 42,500 shares, a decline of 35.5% from the January 31st total of 65,900 shares. Based on an average daily volume of 135,100 shares, the days-to-cover ratio is presently 0.3 days.

High Income Securities Fund Price Performance

NYSE PCF traded down $0.03 on Tuesday, reaching $6.80. The stock had a trading volume of 76,762 shares, compared to its average volume of 131,118. High Income Securities Fund has a 12-month low of $6.19 and a 12-month high of $7.00. The business’s 50-day moving average price is $6.66 and its 200 day moving average price is $6.70.

High Income Securities Fund Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd were paid a $0.0593 dividend. This represents a yield of 10.68%. The ex-dividend date of this dividend was Tuesday, January 21st.

Insider Buying and Selling

In other High Income Securities Fund news, Director Gerald Hellerman bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $6.66 per share, for a total transaction of $66,600.00. Following the completion of the purchase, the director now directly owns 14,325 shares in the company, valued at $95,404.50. This trade represents a 231.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Phillip Goldstein sold 19,296 shares of the business’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 value of $131,984.64. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders acquired 13,624 shares of company stock worth $89,836 and sold 19,669 shares worth $134,425. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On High Income Securities Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Total Wealth Planning & Management Inc. purchased a new stake in High Income Securities Fund in the fourth quarter valued at approximately $80,000. Alpine Global Management LLC purchased a new stake in shares of High Income Securities Fund during the fourth quarter worth approximately $199,000. CF Capital LLC purchased a new stake in shares of High Income Securities Fund during the fourth quarter worth approximately $219,000. MGO One Seven LLC purchased a new stake in shares of High Income Securities Fund during the fourth quarter worth approximately $227,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of High Income Securities Fund during the fourth quarter worth approximately $1,256,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

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.