High Income Securities Fund (NYSE:PCF) Trading Down 0.9% – What’s Next?

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

High Income Securities Fund Stock Performance

The stock’s 50 day moving average is $5.52 and its 200 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. Shareholders of record on Tuesday, September 22nd will be given a dividend of $0.058 per share. The ex-dividend date is Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 13.1%.

Hedge Funds Weigh In On High Income Securities Fund

A number of large investors have recently made changes to their positions in the stock. Saba Capital Management L.P. purchased a new stake in High Income Securities Fund during the 1st quarter worth about $983,000. Lido Advisors LLC purchased a new position in High Income Securities Fund during the 1st quarter valued at about $66,000. Bulldog Investors LLP grew its holdings in 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 buying an additional 3,256 shares in the last quarter. Live Oak Private Wealth LLC bought a new stake in shares of High Income Securities Fund during the first quarter valued at about $97,000. Finally, Tactive Advisors LLC increased its position in shares of High Income Securities Fund by 21.9% during the first quarter. Tactive Advisors LLC now owns 21,007 shares of the financial services provider’s stock valued at $116,000 after buying an additional 3,780 shares during the period. 16.64% of the stock is owned by 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.