High Income Securities Fund (NYSE:PCF) Sees Significant Increase in Short Interest

High Income Securities Fund (NYSE:PCF) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 10,244 shares, an increase of 161.1% from the January 29th total of 3,924 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 93,017 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 93,017 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s shares are sold short.

Insider Activity at High Income Securities Fund

In other High Income Securities Fund news, insider Phillip Goldstein purchased 10,000 shares of High Income Securities Fund stock in a transaction dated Tuesday, February 3rd. The shares were purchased at an average cost of $6.05 per share, for a total transaction of $60,500.00. Following the completion of the acquisition, the insider owned 23,448 shares in the company, valued at $141,860.40. This represents a 74.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 24,929 shares of company stock worth $150,792 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On High Income Securities Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Integrity Advisory Solutions LLC purchased a new stake in High Income Securities Fund in the third quarter valued at $71,000. XTX Topco Ltd acquired a new position in High Income Securities Fund during the fourth quarter worth $71,000. Kovack Advisors Inc. purchased a new position in shares of High Income Securities Fund in the 4th quarter valued at about $91,000. Benjamin Edwards Inc. acquired a new stake in shares of High Income Securities Fund during the 3rd quarter valued at approximately $98,000. Finally, Tactive Advisors LLC purchased a new stake in shares of High Income Securities Fund in the 2nd quarter worth about $101,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

High Income Securities Fund Stock Down 0.2%

High Income Securities Fund stock opened at $5.99 on Friday. High Income Securities Fund has a fifty-two week low of $5.73 and a fifty-two week high of $6.87. The company has a 50 day moving average price of $6.09 and a 200-day moving average price of $6.23.

High Income Securities Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.058 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) annualized dividend and a dividend yield of 11.6%.

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.