High Income Securities Fund (NYSE:PCF - Get Free Report) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 82,500 shares, a drop of 25.1% from the February 29th total of 110,200 shares. Based on an average trading volume of 75,900 shares, the short-interest ratio is currently 1.1 days.
Hedge Funds Weigh In On High Income Securities Fund
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. raised its stake in High Income Securities Fund by 112.0% in the first quarter. Advisor Group Holdings Inc. now owns 51,097 shares of the financial services provider's stock valued at $405,000 after buying an additional 27,000 shares during the last quarter. Raymond James & Associates raised its stake in High Income Securities Fund by 12.8% in the first quarter. Raymond James & Associates now owns 65,889 shares of the financial services provider's stock valued at $522,000 after buying an additional 7,489 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in High Income Securities Fund in the first quarter valued at about $221,000. Baird Financial Group Inc. raised its stake in High Income Securities Fund by 13.9% in the first quarter. Baird Financial Group Inc. now owns 132,758 shares of the financial services provider's stock valued at $1,051,000 after buying an additional 16,249 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in High Income Securities Fund by 3.8% in the first quarter. NewEdge Advisors LLC now owns 124,300 shares of the financial services provider's stock valued at $984,000 after buying an additional 4,600 shares during the last quarter. Institutional investors own 16.64% of the company's stock.
High Income Securities Fund Stock Performance
PCF stock traded up $0.06 during midday trading on Friday, reaching $6.77. The company's stock had a trading volume of 66,214 shares, compared to its average volume of 46,805. The stock has a fifty day simple moving average of $6.61 and a two-hundred day simple moving average of $6.39. High Income Securities Fund has a 1 year low of $5.71 and a 1 year high of $6.96.
High Income Securities Fund Increases Dividend
The company also recently declared a dividend, which was paid on Wednesday, January 31st. Stockholders of record on Monday, January 22nd were given a dividend of $0.0622 per share. This is an increase from High Income Securities Fund's previous dividend of $0.05. The ex-dividend date was Friday, January 19th. This represents a dividend yield of 11.57%.
High Income Securities Fund Company Profile
(
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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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