High Income Securities Fund (NYSE:PCF) Trading Up 0.2% – Here’s Why

High Income Securities Fund (NYSE:PCF)’s stock price shot up 0.2% during trading on Friday . The stock traded as high as $6.12 and last traded at $6.1150. 45,190 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 97,781 shares. The stock had previously closed at $6.10.

High Income Securities Fund Stock Up 0.2%

The stock has a 50 day moving average price of $6.20 and a two-hundred day moving average price of $6.32.

High Income Securities Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.0593 per share. The ex-dividend date is Tuesday, December 16th. This represents a c) dividend on an annualized basis and a yield of 11.6%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC lifted its stake in High Income Securities Fund by 525,921.8% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 132,105,119 shares of the financial services provider’s stock valued at $868,366,000 after acquiring an additional 132,080,005 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in High Income Securities Fund in the 1st quarter valued at $776,000. Raymond James Financial Inc. lifted its stake 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 buying an additional 54,163 shares during the last quarter. Shaker Financial Services LLC boosted its holdings in shares of High Income Securities Fund by 171.6% during the third quarter. Shaker Financial Services LLC now owns 77,415 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 48,912 shares during the period. Finally, Samalin Investment Counsel LLC boosted its position in shares of High Income Securities Fund by 185.6% in the second quarter. Samalin Investment Counsel LLC now owns 71,556 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 46,497 shares during the period. Institutional investors own 16.64% of the company’s stock.

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.