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

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 - ) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 30,600 shares, agrowthof130.1% from the July 15th total of 13,300 shares. Currently,0.2% of the company's stock are short sold. Based on an average daily volume of 63,300 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 63,300 shares, the days-to-cover ratio is currently 0.5 days. Currently,0.2% of the company's stock are short sold.

High Income Securities Fund Stock Up 0.2%

Shares of PCF traded up $0.02 during mid-day trading on Friday, hitting $6.43. 43,095 shares of the company's stock were exchanged, compared to its average volume of 68,064. High Income Securities Fund has a fifty-two week low of $5.73 and a fifty-two week high of $6.91. The stock's 50-day moving average is $6.37 and its 200-day moving average is $6.43.

High Income Securities Fund Announces Dividend

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. This represents a yield of 1,107.0%. The ex-dividend date is Tuesday, August 19th.

Hedge Funds Weigh In On High Income Securities Fund

Hedge funds have recently added to or reduced their stakes in the stock. Total Wealth Planning & Management Inc. purchased a new position in shares of High Income Securities Fund during the fourth quarter worth approximately $80,000. L.M. Kohn & Company purchased a new position in High Income Securities Fund in the 1st quarter valued at $92,000. K2 Principal Fund L.P. purchased a new position in High Income Securities Fund in the 1st quarter valued at $111,000. Merit Financial Group LLC lifted its holdings in High Income Securities Fund by 11.2% in the first quarter. Merit Financial Group LLC now owns 16,958 shares of the financial services provider's stock valued at $113,000 after acquiring an additional 1,711 shares during the period. Finally, Samalin Investment Counsel LLC acquired a new stake in High Income Securities Fund in the first quarter valued at $167,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

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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