High Income Securities Fund (NYSE:PCF) Short Interest Up 43.1% in August

Key Points

• The High Income Securities Fund (NYSE:PCF) experienced a significant increase in short interest, with 29,200 shares shorted as of August 31st, up 43.1% from earlier in the month.
• Several institutional investors have made notable adjustments to their holdings in the fund, including Kingstone Capital Partners Texas LLC, which raised its stake by a remarkable 525,921.8% in the second quarter.
• The fund recently announced a monthly dividend of $0.0593, yielding an annualized rate of **11.1%**, paid to stockholders of record on August 19th.

High Income Securities Fund (NYSE:PCF - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 29,200 shares, an increase of 43.1% from the August 15th total of 20,400 shares. Approximately 0.2% of the company's shares are sold short. Based on an average trading volume of 66,800 shares, the short-interest ratio is presently 0.4 days. Based on an average trading volume of 66,800 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the company's shares are sold short.

Hedge Funds Weigh In On High Income Securities Fund

Institutional investors have recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC grew its holdings in High Income Securities Fund by 525,921.8% in the second quarter. Kingstone Capital Partners Texas LLC now owns 132,105,119 shares of the financial services provider's stock worth $868,366,000 after purchasing an additional 132,080,005 shares during the period. Advisors Asset Management Inc. purchased a new stake in High Income Securities Fund in the first quarter worth about $776,000. Raymond James Financial Inc. grew its holdings in High Income Securities Fund by 18.5% in the second 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 during the period. Samalin Investment Counsel LLC grew its holdings in High Income Securities Fund by 185.6% in the second quarter. Samalin Investment Counsel LLC now owns 71,556 shares of the financial services provider's stock worth $454,000 after purchasing an additional 46,497 shares during the period. Finally, Harbour Investments Inc. grew its holdings in High Income Securities Fund by 897.8% in the first quarter. Harbour Investments Inc. now owns 49,621 shares of the financial services provider's stock worth $330,000 after purchasing an additional 44,648 shares during the period. 16.64% of the stock is owned by institutional investors.

High Income Securities Fund Stock Performance

Shares of NYSE:PCF traded up $0.03 during midday trading on Friday, hitting $6.46. 37,878 shares of the stock traded hands, compared to its average volume of 78,322. The business's 50 day moving average is $6.40 and its two-hundred day moving average is $6.38. High Income Securities Fund has a one year low of $5.73 and a one year high of $6.91.

High Income Securities Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, August 29th. Investors of record on Tuesday, August 19th were paid a $0.0593 dividend. This represents a c) dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend was Tuesday, August 19th.

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.