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

High Income Securities Fund (NYSE:PCF) declared a monthly dividend on Wednesday, July 1st. Investors of record on Tuesday, September 22nd will be given a dividend of 0.058 per share by the financial services provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date is Tuesday, September 22nd.

High Income Securities Fund Trading Up 1.8%

Shares of NYSE PCF opened at $5.57 on Thursday. High Income Securities Fund has a 12-month low of $5.36 and a 12-month high of $6.51. The firm’s 50-day simple moving average is $5.59 and its 200 day simple moving average is $5.80.

Insider Activity at High Income Securities Fund

In related news, insider Phillip Goldstein purchased 5,088 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were acquired at an average cost of $5.45 per share, with a total value of $27,729.60. Following the completion of the purchase, the insider directly owned 46,441 shares of the company’s stock, valued at $253,103.45. This trade represents a 12.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Integrity Advisory Solutions LLC acquired a new position in High Income Securities Fund during the 3rd quarter worth $71,000. XTX Topco Ltd acquired a new stake in shares of High Income Securities Fund in the 4th quarter valued at $71,000. Lido Advisors LLC bought a new stake in shares of High Income Securities Fund during the first quarter worth $66,000. Bulldog Investors LLP raised its position in shares of High Income Securities Fund by 30.4% during the first quarter. Bulldog Investors LLP now owns 13,961 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 3,256 shares during the last quarter. Finally, Kovack Advisors Inc. acquired a new position in shares of High Income Securities Fund during the fourth quarter valued at $91,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

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.