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

Key Points

• Short interest in High Income Securities Fund rose 81.2% to 45,687 shares as of July 15, representing approximately 0.2% of shares outstanding and a short-interest ratio of 0.8 days.
• Institutional activity was mixed, with Raymond James increasing its stake by 18.5% and Osaic Holdings expanding its position by 51.0%; institutional investors collectively own 16.64% of the fund.
• PCF shares recently traded at $5.30, near their 12-month low, while the fund declared a monthly $0.058 dividend, equating to a reported annualized yield of 13.1%.

High Income Securities Fund (NYSE:PCF - Get Free Report) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 45,687 shares, a growth of 81.2% from the June 30th total of 25,220 shares. Based on an average trading volume of 59,307 shares, the short-interest ratio is currently 0.8 days. Approximately 0.2% of the company's stock are short sold.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. purchased a new stake in shares of High Income Securities Fund in the first quarter worth $183,000. Raymond James Financial Inc. boosted its stake in High Income Securities Fund by 18.5% in the 2nd 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 in the last quarter. Jane Street Group LLC bought a new position in High Income Securities Fund in the 2nd quarter worth about $199,000. Osaic Holdings Inc. grew its position in High Income Securities Fund by 51.0% during the 2nd quarter. Osaic Holdings Inc. now owns 57,289 shares of the financial services provider's stock valued at $364,000 after purchasing an additional 19,341 shares during the last quarter. Finally, Savvy Advisors Inc. bought a new stake in High Income Securities Fund during the 4th quarter valued at about $156,000. Hedge funds and other institutional investors own 16.64% of the company's stock.

High Income Securities Fund Price Performance

Shares of NYSE PCF traded up $0.02 on Thursday, reaching $5.30. 52,403 shares of the company's stock traded hands, compared to its average volume of 73,251. High Income Securities Fund has a 12 month low of $5.23 and a 12 month high of $6.51. The business's 50 day simple moving average is $5.50 and its two-hundred day simple moving average is $5.70.

High Income Securities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be paid a $0.058 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 13.1%.

About High Income Securities Fund

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.

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