High Income Securities Fund (NYSE:PCF) Trading Down 0.6% - Here's What Happened

Key Points

• The High Income Securities Fund (NYSE:PCF) shares decreased by 0.6%, closing at $6.30 after trading as low as $6.28 on Friday.
• The fund announced a monthly dividend of $0.0593 per share, with an annualized yield of 11.3%, to be paid on December 31st.
• Institutional investors have increased their stake in the fund, with notable increases including an 897.8% lift by Harbour Investments Inc. during the first quarter.

High Income Securities Fund (NYSE:PCF - ) shares dropped 0.6% on Friday . The stock traded as low as $6.28 and last traded at $6.30. Approximately 98,251 shares were traded during trading, an increase of 21% from the average daily volume of 80,930 shares. The stock had previously closed at $6.33.

High Income Securities Fund Price Performance

The company's 50-day moving average price is $6.40 and its 200 day moving average price is $6.35.

High Income Securities Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $0.0593 per share. This represents a c) annualized dividend and a yield of 11.3%. The ex-dividend date is Tuesday, December 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PCF. Merit Financial Group LLC lifted its stake in High Income Securities Fund by 11.2% in the first quarter. Merit Financial Group LLC now owns 16,958 shares of the financial services provider's stock worth $113,000 after acquiring an additional 1,711 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in High Income Securities Fund in the 1st quarter worth approximately $167,000. L.M. Kohn & Company purchased a new position in shares of High Income Securities Fund during the 1st quarter valued at approximately $92,000. Harbour Investments Inc. lifted its position in shares of 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 buying an additional 44,648 shares in the last quarter. Finally, Samalin Investment Counsel LLC purchased a new position in High Income Securities Fund in the 1st quarter valued at $167,000. Institutional investors own 16.64% of the company's stock.

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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