High Income Securities Fund (NYSE:PCF) Stock Price Up 0.4% - Still a Buy?

High Income Securities Fund (NYSE:PCF - Get Free Report) shares rose 0.4% on Wednesday . The company traded as high as $6.35 and last traded at $6.35. Approximately 61,064 shares changed hands during trading, a decline of 50% from the average daily volume of 122,825 shares. The stock had previously closed at $6.32.

High Income Securities Fund Price Performance

The firm's fifty day moving average price is $6.26 and its 200 day moving average price is $6.50.

High Income Securities Fund Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, May 30th. Stockholders of record on Wednesday, May 21st were issued a $0.0593 dividend. The ex-dividend date was Tuesday, May 20th. This represents a dividend yield of 11.19%.

Insider Transactions at High Income Securities Fund

In other news, Director Moritz A. Sell acquired 4,487 shares of the business's stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $5.97 per share, with a total value of $26,787.39. Following the transaction, the director now directly owns 11,033 shares in the company, valued at approximately $65,867.01. This represents a 68.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 6,376 shares of company stock valued at $38,412 in the last 90 days. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On High Income Securities Fund

A number of large investors have recently made changes to their positions in the stock. K2 Principal Fund L.P. purchased a new stake in shares of High Income Securities Fund during the first quarter valued at $111,000. Advisors Asset Management Inc. purchased a new stake in shares of High Income Securities Fund during the first quarter valued at $776,000. Baird Financial Group Inc. purchased a new stake in shares of High Income Securities Fund during the first quarter valued at $183,000. Samalin Investment Counsel LLC purchased a new stake in shares of High Income Securities Fund during the first quarter valued at $167,000. Finally, Harbour Investments Inc. boosted 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 valued at $330,000 after purchasing an additional 44,648 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

About High Income Securities Fund

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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