High Income Securities Fund (NYSE:PCF) Shares Shorted: Short Interest Up 104.2% in September

High Income Securities Fund (NYSE:PCF) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 85,149 shares, an increase of 104.2% from the September 15th total of 41,693 shares. Based on an average daily volume of 124,290 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PCF. Lido Advisors LLC bought a new stake in High Income Securities Fund during the first quarter worth about $66,000. Tactive Advisors LLC increased its position in shares of High Income Securities Fund by 21.9% during the 1st quarter. Tactive Advisors LLC now owns 21,007 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 3,780 shares during the last quarter. Live Oak Private Wealth LLC bought a new position in shares of High Income Securities Fund during the 1st quarter valued at about $97,000. Bulldog Investors LLP increased its position in shares of High Income Securities Fund by 30.4% during the 1st quarter. Bulldog Investors LLP now owns 13,961 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 3,256 shares during the last quarter. Finally, Saba Capital Management L.P. purchased a new position in shares of High Income Securities Fund during the 1st quarter valued at about $983,000. Institutional investors own 16.64% of the company’s stock.

High Income Securities Fund Price Performance

Shares of NYSE:PCF opened at $5.07 on Friday. The company’s fifty day moving average price is $5.33 and its 200-day moving average price is $5.47. High Income Securities Fund has a one year low of $4.95 and a one year high of $6.34.

High Income Securities Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 22nd will be issued a dividend of $0.0580 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 13.7%. The ex-dividend date of this dividend is Tuesday, December 22nd.

About High Income Securities Fund

High Income Securities Fund (NYSE: PCF) is a closed-end investment company that seeks to provide investors with a high level of current income, with capital appreciation as a secondary objective. The fund invests in a portfolio of income-producing securities rather than operating a commercial business.

Its investments may include high-yield corporate debt, investment-grade and other fixed-income securities, preferred stocks, common stocks, convertible securities and other income-oriented assets.