High Income Securities Fund (NYSE:PCF) Shares Climb 0.4% – Should You Buy?

Shares of High Income Securities Fund (NYSE:PCF) rose 0.4% during trading on Wednesday. The stock traded as high as $5.11 and last traded at $5.08. 103,236 shares changed hands during mid-day trading, an increase of 54% from the average daily volume of 67,226 shares. The stock had previously closed at $5.06.

High Income Securities Fund Trading Up 0.4%

The business has a 50 day simple moving average of $5.21 and a two-hundred day simple moving average of $5.54.

High Income Securities Fund Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PCF. Bulldog Investors LLP increased its position in 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 purchasing an additional 3,256 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its position in High Income Securities Fund by 6.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 76,811 shares of the financial services provider’s stock valued at $396,000 after buying an additional 4,664 shares in the last quarter. Tactive Advisors LLC grew its stake in High Income Securities Fund by 24.8% during the third quarter. Tactive Advisors LLC now owns 26,489 shares of the financial services provider’s stock worth $137,000 after buying an additional 5,263 shares during the period. Samalin Investment Counsel LLC grew its stake in High Income Securities Fund by 4.2% during the third quarter. Samalin Investment Counsel LLC now owns 156,643 shares of the financial services provider’s stock worth $808,000 after buying an additional 6,280 shares during the period. Finally, Lido Advisors LLC acquired a new stake in shares of High Income Securities Fund in the first quarter worth $66,000. 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 is a non-diversified closed-end management investment company listed on the New York Stock Exchange under the symbol PCF. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in income-producing securities, which may include high-yield corporate debt, preferred stocks, convertible securities, common stocks and other fixed-income or equity investments. Its portfolio may also include investments in closed-end funds, business development companies and other publicly traded securities, allowing the fund to pursue income and value-oriented opportunities across multiple asset classes.

The fund was formerly known as Putnam High Income Securities Fund and adopted its current name after its investment management structure changed.