High Income Securities Fund (NYSE:PCF) Sees Large Drop in Short Interest

Key Points

• The High Income Securities Fund (NYSE:PCF) experienced a 33.3% decrease in short interest during August, dropping to 20,400 shares as of August 15th.
• The fund recently announced a monthly dividend of $0.0593 per share, which corresponds to an annualized dividend yield of 11.1%.
• Institutional investors have significantly increased their holdings, with Osaic Holdings Inc. boosting their stake by 51.0% in the second quarter.

High Income Securities Fund (NYSE:PCF - ) was the target of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totaling 20,400 shares, adecreaseof33.3% from the July 31st total of 30,600 shares. Based on an average trading volume of 60,200 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 60,200 shares, the days-to-cover ratio is presently 0.3 days.

High Income Securities Fund Price Performance

Shares of PCF stock traded down $0.05 during trading hours on Friday, hitting $6.43. The stock had a trading volume of 140,556 shares, compared to its average volume of 60,018. High Income Securities Fund has a twelve month low of $5.73 and a twelve month high of $6.91. The stock's 50 day moving average is $6.40 and its 200 day moving average is $6.40.

High Income Securities Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 29th. Investors of record on Tuesday, August 19th were issued a dividend of $0.0593 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a c) annualized dividend and a dividend yield of 11.1%.

Institutional Investors Weigh In On High Income Securities Fund

Several hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its holdings in shares of High Income Securities Fund by 51.0% during the second quarter. Osaic Holdings Inc. now owns 57,289 shares of the financial services provider's stock worth $364,000 after purchasing an additional 19,341 shares during the period. Tactive Advisors LLC acquired a new stake in shares of High Income Securities Fund during the second quarter worth $101,000. Jane Street Group LLC acquired a new stake in shares of High Income Securities Fund during the second quarter worth $199,000. Raymond James Financial Inc. lifted its holdings in shares of High Income Securities Fund by 18.5% during the second quarter. Raymond James Financial Inc. now owns 340,228 shares of the financial services provider's stock worth $2,160,000 after purchasing an additional 53,016 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of High Income Securities Fund by 5.1% during the second quarter. Advisors Asset Management Inc. now owns 122,592 shares of the financial services provider's stock worth $778,000 after purchasing an additional 5,945 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

High Income Securities Fund Company Profile

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.

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