High Income Securities Fund (NYSE:PCF) Short Interest Update
by Danessa Lincoln · The Markets DailyHigh Income Securities Fund (NYSE:PCF – Get Free Report) was the recipient of a significant increase in short interest in February. As of February 13th, there was short interest totaling 10,244 shares, an increase of 161.1% from the January 29th total of 3,924 shares. Based on an average daily trading volume, of 93,017 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 93,017 shares, the days-to-cover ratio is presently 0.1 days.
Insiders Place Their Bets
In related news, insider Phillip Goldstein bought 10,000 shares of the stock in a transaction on Tuesday, February 3rd. The shares were bought at an average cost of $6.05 per share, for a total transaction of $60,500.00. Following the completion of the transaction, the insider owned 23,448 shares of the company’s stock, valued at $141,860.40. This represents a 74.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 24,929 shares of company stock worth $150,792 over the last quarter. Corporate insiders own 1.60% of the company’s stock.
Institutional Investors Weigh In On High Income Securities Fund
A number of large investors have recently bought and sold shares of PCF. Invesco Ltd. raised its holdings in shares of High Income Securities Fund by 6.7% in the fourth quarter. Invesco Ltd. now owns 286,408 shares of the financial services provider’s stock worth $1,761,000 after acquiring an additional 17,913 shares during the last quarter. XTX Topco Ltd purchased a new stake in High Income Securities Fund during the 4th quarter worth about $71,000. Rivernorth Capital Management LLC acquired a new position in High Income Securities Fund in the 4th quarter valued at about $323,000. Kovack Advisors Inc. purchased a new position in High Income Securities Fund in the 4th quarter valued at about $91,000. Finally, Osaic Holdings Inc. lifted its holdings in High Income Securities Fund by 29.3% in the 4th quarter. Osaic Holdings Inc. now owns 83,956 shares of the financial services provider’s stock valued at $516,000 after purchasing an additional 19,045 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.
High Income Securities Fund Stock Performance
PCF traded down $0.01 during midday trading on Friday, reaching $5.99. 55,419 shares of the company’s stock were exchanged, compared to its average volume of 83,912. High Income Securities Fund has a 1-year low of $5.73 and a 1-year high of $6.87. The business’s 50-day moving average price is $6.09 and its 200 day moving average price is $6.23.
High Income Securities Fund Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.058 per share. This represents a c) annualized dividend and a dividend yield of 11.6%. The ex-dividend date is Tuesday, March 17th.
About High Income Securities Fund
High Income Securities Fund (NYSE: PCF) is a closed-end management investment company dedicated to delivering a high level of total return, with an emphasis on current income. The fund invests primarily in a diversified portfolio of below-investment-grade debt securities, including corporate high-yield bonds, bank loans and other fixed-income instruments. While the majority of its holdings are denominated in U.S. dollars, the fund may also invest in non-U.S. issuers and currency exposures as part of its global credit strategy.
To pursue its objectives, PCF may employ leverage in the form of borrowings and preferred stock issuance, enhancing its capacity to generate income but also introducing additional risk.