Shares of High Income Securities Fund (NYSE:PCF - Get Free Report) rose 0.4% during mid-day trading on Wednesday . The stock traded as high as $6.35 and last traded at $6.35. Approximately 61,064 shares traded 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 Trading Up 0.2%
The firm has a fifty day moving average of $6.27 and a 200-day moving average of $6.49.
High Income Securities Fund Announces Dividend
The company also recently declared a dividend, which was paid on Friday, May 30th. Shareholders of record on Wednesday, May 21st were given a dividend of $0.0593 per share. This represents a yield of 11.19%. The ex-dividend date of this dividend was Tuesday, May 20th.
Insider Buying and Selling at High Income Securities Fund
In related news, Director Moritz A. Sell bought 4,487 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was bought at an average price of $5.97 per share, with a total value of $26,787.39. Following the completion of the transaction, the director now directly owns 11,033 shares of the company's stock, valued at approximately $65,867.01. This represents a 68.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 6,376 shares of company stock valued at $38,412. Company insiders own 1.60% of the company's stock.
Institutional Investors Weigh In On High Income Securities Fund
Several institutional investors and hedge funds have recently modified their holdings of the stock. K2 Principal Fund L.P. purchased a new stake in shares of High Income Securities Fund in the first quarter worth about $111,000. Advisors Asset Management Inc. purchased a new position in High Income Securities Fund in the first quarter valued at about $776,000. Baird Financial Group Inc. acquired a new stake in High Income Securities Fund during the first quarter valued at approximately $183,000. Samalin Investment Counsel LLC acquired a new stake in High Income Securities Fund during the first quarter valued at approximately $167,000. Finally, Harbour Investments Inc. raised its stake in High Income Securities Fund by 897.8% during the first 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. 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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