High Income Securities Fund Announces Monthly Dividend of $0.06 (NYSE:PCF)

High Income Securities Fund (NYSE:PCF) announced a monthly dividend on Wednesday, July 1st. Stockholders of record on Tuesday, August 18th will be paid a dividend of 0.058 per share by the financial services provider on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date of this dividend is Tuesday, August 18th.

High Income Securities Fund Price Performance

PCF opened at $5.57 on Thursday. High Income Securities Fund has a 52-week low of $5.36 and a 52-week high of $6.51. The business’s fifty day moving average is $5.59 and its 200-day moving average is $5.80.

Insider Buying and Selling at High Income Securities Fund

In other news, insider Phillip Goldstein purchased 5,088 shares of High Income Securities Fund stock in a transaction that occurred on Tuesday, April 7th. The shares were acquired at an average price of $5.45 per share, for a total transaction of $27,729.60. Following the transaction, the insider owned 46,441 shares of the company’s stock, valued at approximately $253,103.45. The trade was a 12.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PCF. Saba Capital Management L.P. acquired a new stake in shares of High Income Securities Fund in the 1st quarter valued at $983,000. Absolute Investment Advisers LLC bought a new stake in shares of High Income Securities Fund during the 4th quarter worth $1,027,000. Quarry LP acquired a new stake in High Income Securities Fund in the fourth quarter valued at about $396,000. Raymond James Financial Inc. grew its position in High Income Securities Fund by 15.9% in the third quarter. Raymond James Financial Inc. now owns 394,391 shares of the financial services provider’s stock valued at $2,504,000 after acquiring an additional 54,163 shares during the last quarter. Finally, Rivernorth Capital Management LLC acquired a new position in High Income Securities Fund during the fourth quarter worth about $323,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

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.