High Income Securities Fund (NYSE:PCF - Get Free Report) was the recipient of a large growth in short interest in May. As of May 31st, there was short interest totalling 17,600 shares, a growth of 225.9% from the May 15th total of 5,400 shares. Currently, 0.1% of the company's stock are sold short. Based on an average daily trading volume, of 65,800 shares, the days-to-cover ratio is presently 0.3 days.
High Income Securities Fund Price Performance
NYSE PCF traded down $0.01 on Friday, hitting $6.36. The stock had a trading volume of 23,735 shares, compared to its average volume of 123,536. High Income Securities Fund has a one year low of $5.73 and a one year high of $7.00. The company's 50-day moving average is $6.25 and its two-hundred day moving average is $6.50.
High Income Securities Fund Dividend Announcement
The company also recently declared a dividend, which was paid on Friday, May 30th. Investors of record on Wednesday, May 21st were given a $0.0593 dividend. The ex-dividend date was Tuesday, May 20th. This represents a dividend yield of 11.19%.
Insiders Place Their Bets
In related news, Director Moritz A. Sell bought 4,487 shares of the business's stock in a transaction dated Monday, April 7th. The shares were acquired at an average price of $5.97 per share, for a total transaction of $26,787.39. Following the purchase, the director now owns 11,033 shares in the company, valued at $65,867.01. This trade represents a 68.55% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 6,376 shares of company stock worth $38,412 in the last quarter. 1.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On High Income Securities Fund
Several hedge funds have recently made changes to their positions in PCF. Noble Wealth Management PBC purchased a new stake in High Income Securities Fund in the 4th quarter worth approximately $70,000. Total Wealth Planning & Management Inc. bought a new position in High Income Securities Fund during the 4th quarter valued at about $80,000. L.M. Kohn & Company bought a new position in shares of High Income Securities Fund in the first quarter worth about $92,000. Naviter Wealth LLC bought a new position in shares of High Income Securities Fund in the fourth quarter worth about $99,000. Finally, K2 Principal Fund L.P. acquired a new stake in shares of High Income Securities Fund during the 1st quarter worth approximately $111,000. Hedge funds and other institutional investors own 16.64% of the company's stock.
About High Income Securities Fund
(
Get Free Report)
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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