High Income Securities Fund (NYSE:PCF) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

High Income Securities Fund (NYSE:PCF)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.63 and traded as low as $5.46. High Income Securities Fund shares last traded at $5.51, with a volume of 83,035 shares.

High Income Securities Fund Stock Performance

The company has a fifty day moving average price of $5.63 and a 200-day moving average price of $5.85.

High Income Securities Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.058 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a c) annualized dividend and a yield of 12.6%.

Insider Buying and Selling at High Income Securities Fund

In related news, insider Phillip Goldstein bought 5,088 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average cost of $5.45 per share, with a total value of $27,729.60. Following the acquisition, the insider owned 46,441 shares in the company, valued at approximately $253,103.45. This represents a 12.30% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On High Income Securities Fund

A number of large investors have recently modified their holdings of the stock. Raymond James Financial Inc. increased its stake in shares of High Income Securities Fund by 15.9% in the 3rd quarter. Raymond James Financial Inc. now owns 394,391 shares of the financial services provider’s stock valued at $2,504,000 after acquiring an additional 54,163 shares during the last quarter. Invesco Ltd. lifted its position in shares of High Income Securities Fund by 6.7% in the fourth quarter. Invesco Ltd. now owns 286,408 shares of the financial services provider’s stock worth $1,761,000 after purchasing an additional 17,913 shares in the last quarter. Saba Capital Management L.P. acquired a new position in shares of High Income Securities Fund during the 1st quarter worth about $983,000. Absolute Investment Advisers LLC acquired a new position in shares of High Income Securities Fund during the 4th quarter worth approximately $1,027,000. Finally, Rivernorth Capital Management LLC lifted its stake in 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 during the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

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.