High Income Securities Fund (NYSE:PCF) Trading Up 0.6% - Here's Why

Key Points

• High Income Securities Fund (NYSE:PCF) shares increased by 0.6% during mid-day trading, reaching a high of $6.35.
• The fund announced a monthly dividend of $0.0593 per share, with a dividend yield of 11.2%, payable on September 30th to shareholders of record on September 16th.
• Various institutional investors acquired new stakes and increased their positions in the fund, indicating growing confidence, with 16.64% of the company's stock now owned by institutional investors.

High Income Securities Fund (NYSE:PCF - Get Free Report)'s stock price traded up 0.6% during mid-day trading on Thursday . The company traded as high as $6.35 and last traded at $6.35. 107,193 shares traded hands during trading, an increase of 70% from the average session volume of 62,894 shares. The stock had previously closed at $6.31.

High Income Securities Fund Trading Up 0.2%

The business has a 50-day moving average of $6.36 and a 200-day moving average of $6.45.

High Income Securities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.0593 per share. This represents a c) dividend on an annualized basis and a yield of 11.3%. The ex-dividend date is Tuesday, September 16th.

Hedge Funds Weigh In On High Income Securities Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC boosted its holdings in High Income Securities Fund by 525,921.8% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 132,105,119 shares of the financial services provider's stock valued at $868,366,000 after acquiring an additional 132,080,005 shares during the period. Raymond James Financial Inc. purchased a new position in High Income Securities Fund during the 4th quarter valued at about $1,256,000. Advisors Asset Management Inc. purchased a new position in High Income Securities Fund during the 1st quarter valued at about $776,000. Wells Fargo & Company MN boosted its holdings in High Income Securities Fund by 15.9% during the 4th quarter. Wells Fargo & Company MN now owns 75,567 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 10,370 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in High Income Securities Fund by 897.8% during the 1st quarter. Harbour Investments Inc. now owns 49,621 shares of the financial services provider's stock valued at $330,000 after acquiring an additional 44,648 shares during the period. 16.64% of the stock is currently 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.