High Income Securities Fund (NYSE:PCF) Stock Price Up 0.2% – Time to Buy?

High Income Securities Fund (NYSE:PCF)’s stock price shot up 0.2% during mid-day trading on Friday . The stock traded as high as $6.12 and last traded at $6.1150. 45,190 shares changed hands during trading, a decline of 54% from the average session volume of 97,781 shares. The stock had previously closed at $6.10.

High Income Securities Fund Price Performance

The business has a fifty day moving average price of $6.20 and a 200 day moving average price of $6.32.

High Income Securities Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.0593 dividend. This represents a c) annualized dividend and a yield of 11.6%. The ex-dividend date is Tuesday, December 16th.

Hedge Funds Weigh In On High Income Securities Fund

Large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. grew its position in shares of High Income Securities Fund by 15.9% during the third quarter. Raymond James Financial Inc. now owns 394,391 shares of the financial services provider’s stock worth $2,504,000 after acquiring an additional 54,163 shares during the last quarter. Integrity Advisory Solutions LLC purchased a new stake in High Income Securities Fund during the 3rd quarter valued at approximately $71,000. Samalin Investment Counsel LLC lifted its position in High Income Securities Fund by 28.5% during the 3rd quarter. Samalin Investment Counsel LLC now owns 91,976 shares of the financial services provider’s stock worth $584,000 after acquiring an additional 20,420 shares during the period. Kingstone Capital Partners Texas LLC grew its stake in shares of High Income Securities Fund by 11.5% in the 3rd quarter. Kingstone Capital Partners Texas LLC now owns 30,791 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 3,175 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new position in High Income Securities Fund in the 3rd quarter valued at $98,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

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.