High Income Securities Fund (NYSE:PCF) Shares Down 0.9% – Time to Sell?

High Income Securities Fund (NYSE:PCF) traded down 0.9% during mid-day trading on Thursday . The company traded as low as $5.23 and last traded at $5.31. Approximately 70,078 shares changed hands during trading, an increase of 16% from the average daily volume of 60,333 shares. The stock had previously closed at $5.36.

High Income Securities Fund Price Performance

The stock’s fifty day moving average is $5.52 and its two-hundred day moving average is $5.73.

High Income Securities Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 13.1%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in High Income Securities Fund in the fourth quarter worth $71,000. Lido Advisors LLC purchased a new stake in High Income Securities Fund in the 1st quarter worth about $66,000. Bulldog Investors LLP raised its stake in High Income Securities Fund by 30.4% in the 1st quarter. Bulldog Investors LLP now owns 13,961 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 3,256 shares during the period. Integrity Advisory Solutions LLC raised its stake in High Income Securities Fund by 27.1% in the 4th quarter. Integrity Advisory Solutions LLC now owns 14,234 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 3,038 shares during the period. Finally, Kovack Advisors Inc. purchased a new stake in High Income Securities Fund during the fourth quarter valued at about $91,000. 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 (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.