High Income Securities Fund (NYSE:PCF - Get Free Report) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 21,400 shares, a drop of 83.6% from the March 31st total of 130,700 shares. Based on an average daily trading volume, of 75,500 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the company's shares are short sold.
High Income Securities Fund Trading Down 0.3 %
High Income Securities Fund stock traded down $0.02 during mid-day trading on Wednesday, hitting $6.25. The company's stock had a trading volume of 62,905 shares, compared to its average volume of 124,650. High Income Securities Fund has a 1 year low of $5.73 and a 1 year high of $7.00. The stock's fifty day moving average is $6.46 and its two-hundred day moving average is $6.60.
High Income Securities Fund Dividend Announcement
The firm also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 23rd will be given a dividend of $0.0593 per share. This represents a dividend yield of 11.68%. The ex-dividend date of this dividend is Tuesday, April 22nd.
Insider Buying and Selling
In other news, Director Moritz A. Sell acquired 4,487 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average price of $5.97 per share, with a total value of $26,787.39. Following the completion of the acquisition, the director now owns 11,033 shares of the company's stock, valued at $65,867.01. This trade represents a 68.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Phillip Goldstein sold 19,296 shares of High Income Securities Fund stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.84, for a total transaction of $131,984.64. Following the transaction, the director now directly owns 7,131 shares in the company, valued at $48,776.04. This trade represents a 73.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 6,376 shares of company stock worth $38,412. 1.60% of the stock is owned by corporate insiders.
Institutional Trading of High Income Securities Fund
Several institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC lifted its holdings in shares of High Income Securities Fund by 1,744.5% in the 4th quarter. LPL Financial LLC now owns 1,748,815 shares of the financial services provider's stock worth $11,420,000 after acquiring an additional 1,654,003 shares during the last quarter. Rivernorth Capital Management LLC acquired a new position in High Income Securities Fund in the 3rd quarter valued at about $7,890,000. Raymond James Financial Inc. purchased a new stake in High Income Securities Fund during the fourth quarter worth about $1,256,000. Wells Fargo & Company MN lifted its position in shares of High Income Securities Fund by 15.9% during the fourth quarter. Wells Fargo & Company MN now owns 75,567 shares of the financial services provider's stock worth $493,000 after purchasing an additional 10,370 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in shares of High Income Securities Fund by 4.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 43,295 shares of the financial services provider's stock valued at $283,000 after purchasing an additional 1,804 shares during the period. 16.64% of the stock is currently owned by hedge funds and other institutional investors.
High Income Securities Fund Company Profile
(
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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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