High Income Securities Fund (NYSE:PCF) Short Interest Up 280.2% in February

High Income Securities Fund (NYSE:PCF) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 161,600 shares, an increase of 280.2% from the February 13th total of 42,500 shares. Based on an average trading volume of 110,400 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.9% of the shares of the stock are sold short.

High Income Securities Fund Stock Performance

NYSE PCF opened at $6.69 on Friday. The company has a 50-day simple moving average of $6.69 and a two-hundred day simple moving average of $6.70. High Income Securities Fund has a 12-month low of $6.19 and a 12-month high of $7.00.

High Income Securities Fund Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd were given a dividend of $0.0593 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a yield of 10.68%.

Insider Activity at High Income Securities Fund

In other High Income Securities Fund news, Director Gerald Hellerman purchased 10,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $6.66 per share, for a total transaction of $66,600.00. Following the completion of the transaction, the director now directly owns 14,325 shares in the company, valued at approximately $95,404.50. This represents a 231.21 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Phillip Goldstein sold 19,296 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $6.84, for a total transaction of $131,984.64. Following the sale, the director now owns 7,131 shares of the company’s stock, valued at approximately $48,776.04. The trade was a 73.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 13,624 shares of company stock valued at $89,836 and have sold 19,669 shares valued at $134,425. 1.60% of the stock is owned by insiders.

Institutional Trading of High Income Securities Fund

Several institutional investors have recently added to or reduced their stakes in PCF. LPL Financial LLC boosted its holdings in shares of High Income Securities Fund by 1,744.5% during the fourth quarter. LPL Financial LLC now owns 1,748,815 shares of the financial services provider’s stock worth $11,420,000 after purchasing an additional 1,654,003 shares during the period. Rivernorth Capital Management LLC purchased a new stake in shares of High Income Securities Fund during the third quarter worth about $7,890,000. Raymond James Financial Inc. purchased a new stake in shares of High Income Securities Fund during the fourth quarter worth about $1,256,000. Quarry LP boosted its holdings in shares of High Income Securities Fund by 502,860.0% during the third quarter. Quarry LP now owns 50,296 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 50,286 shares during the period. Finally, Harbour Investments Inc. purchased a new stake in shares of High Income Securities Fund during the third quarter worth about $333,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

High Income Securities Fund Company Profile

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.