High Income Securities Fund (NYSE:PCF) Short Interest Down 38.7% in January

High Income Securities Fund (NYSE:PCF) saw a large decline in short interest in January. As of January 15th, there was short interest totalling 58,700 shares, a decline of 38.7% from the December 31st total of 95,700 shares. Based on an average daily volume of 143,700 shares, the short-interest ratio is currently 0.4 days.

High Income Securities Fund Price Performance

Shares of PCF stock traded up $0.02 during trading hours on Wednesday, reaching $6.64. The company had a trading volume of 152,629 shares, compared to its average volume of 97,298. The stock’s fifty day simple moving average is $6.62 and its 200 day simple moving average is $6.66. High Income Securities Fund has a twelve month low of $6.19 and a twelve month high of $7.00.

High Income Securities Fund Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd will be given a dividend of $0.0593 per share. This represents a dividend yield of 10.68%. The ex-dividend date is Tuesday, January 21st.

Insiders Place Their Bets

In other news, Director Gerald Hellerman purchased 10,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price 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 $95,404.50. This represents a 231.21 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders have purchased 13,624 shares of company stock worth $89,836. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On High Income Securities Fund

A number of hedge funds have recently bought and sold shares of the business. Rivernorth Capital Management LLC acquired a new position in shares of High Income Securities Fund in the 3rd quarter worth approximately $7,890,000. Quarry LP boosted its holdings in High Income Securities Fund by 502,860.0% in 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. Harbour Investments Inc. bought a new stake in High Income Securities Fund during the third quarter valued at $333,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of High Income Securities Fund during the third quarter worth $252,000. Finally, L.M. Kohn & Company bought a new position in shares of High Income Securities Fund in the 3rd quarter worth about $94,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

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.