Short Interest in High Income Securities Fund (NYSE:PCF) Decreases By 23.6%

High Income Securities Fund (NYSE:PCF) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 17,546 shares, a drop of 23.6% from the February 26th total of 22,958 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 118,664 shares, the days-to-cover ratio is currently 0.1 days.

Insider Buying and Selling

In related news, insider Phillip Goldstein purchased 17,905 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were acquired at an average price of $5.46 per share, for a total transaction of $97,761.30. Following the purchase, the insider owned 41,353 shares of the company’s stock, valued at $225,787.38. This trade represents a 76.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have purchased 37,047 shares of company stock valued at $213,733. 1.60% of the stock is owned by company insiders.

Institutional Trading of High Income Securities Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrity Advisory Solutions LLC purchased a new stake in High Income Securities Fund during the 3rd quarter valued at about $71,000. XTX Topco Ltd purchased a new position in shares of High Income Securities Fund in the fourth quarter worth about $71,000. Kovack Advisors Inc. purchased a new position in shares of High Income Securities Fund in the fourth quarter worth about $91,000. Benjamin Edwards Inc. acquired a new stake in shares of High Income Securities Fund during the third quarter worth about $98,000. Finally, Tactive Advisors LLC acquired a new stake in shares of High Income Securities Fund during the second quarter worth about $101,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

High Income Securities Fund Stock Down 0.2%

NYSE PCF opened at $5.48 on Friday. High Income Securities Fund has a 12-month low of $5.36 and a 12-month high of $6.67. The company has a fifty day simple moving average of $5.91 and a two-hundred day simple moving average of $6.12.

High Income Securities Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.058 dividend. The ex-dividend date is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a yield of 12.7%.

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.