Short Interest in High Income Securities Fund (NYSE:PCF) Increases By 130.1%

Key Points

• The High Income Securities Fund (NYSE: PCF) experienced a 130.1% increase in short interest from July 15 to July 31, totaling 30,600 shares.
• Shares of PCF closed at $6.43, reflecting a slight increase of 0.2%, with a trading volume of 43,095 shares compared to its average of 68,064.
• The fund declared a dividend of $0.0593 per share, resulting in a remarkable yield of 1,107.0%, with the payment date set for August 29.

High Income Securities Fund (NYSE:PCF - Get Free Report) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 30,600 shares, anincreaseof130.1% from the July 15th total of 13,300 shares. Based on an average daily trading volume, of 63,300 shares, the days-to-cover ratio is currently 0.5 days. Currently,0.2% of the shares of the stock are short sold. Currently,0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 63,300 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Baird Financial Group Inc. purchased a new position in shares of High Income Securities Fund during the first quarter valued at about $183,000. Samalin Investment Counsel LLC bought a new position in High Income Securities Fund during the first quarter valued at approximately $167,000. Harbour Investments Inc. grew its holdings in High Income Securities Fund by 897.8% during the 1st quarter. Harbour Investments Inc. now owns 49,621 shares of the financial services provider's stock valued at $330,000 after buying an additional 44,648 shares in the last quarter. L.M. Kohn & Company purchased a new position in High Income Securities Fund during the 1st quarter valued at approximately $92,000. Finally, Kingstone Capital Partners Texas LLC bought a new stake in High Income Securities Fund in the 1st quarter worth approximately $167,000. Institutional investors own 16.64% of the company's stock.

High Income Securities Fund Trading Up 0.6%

Shares of High Income Securities Fund stock traded up $0.04 on Friday, hitting $6.42. 104,199 shares of the company traded hands, compared to its average volume of 70,902. High Income Securities Fund has a 52 week low of $5.73 and a 52 week high of $6.91. The business has a 50-day simple moving average of $6.38 and a 200 day simple moving average of $6.42.

High Income Securities Fund Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 20th will be paid a $0.0593 dividend. The ex-dividend date is Tuesday, August 19th. This represents a yield of 1,107.0%.

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.