High Income Securities Fund (NYSE:PCF) Short Interest Up 280.2% in February

High Income Securities Fund (NYSE:PCF) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 161,600 shares, a growth of 280.2% from the February 13th total of 42,500 shares. Based on an average daily volume of 110,400 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.9% of the shares of the stock are short sold.

High Income Securities Fund Stock Performance

PCF stock opened at $6.65 on Thursday. High Income Securities Fund has a 12-month low of $6.19 and a 12-month high of $7.00. The company has a 50 day moving average of $6.69 and a two-hundred day moving average of $6.70.

High Income Securities Fund Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd were paid a $0.0593 dividend. This represents a dividend yield of 10.68%. The ex-dividend date of this dividend was Tuesday, January 21st.

Insider Buying and Selling

In related news, Director Phillip Goldstein sold 19,296 shares of High Income Securities Fund stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.84, for a total value of $131,984.64. Following the transaction, the director now directly owns 7,131 shares in the company, valued at $48,776.04. The trade was a 73.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerald Hellerman purchased 10,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of $6.66 per share, for a total transaction of $66,600.00. Following the acquisition, the director now directly owns 14,325 shares of the company’s stock, valued at $95,404.50. This trade represents a 231.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 13,624 shares of company stock valued at $89,836 and sold 19,669 shares valued at $134,425. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On High Income Securities Fund

Several large investors have recently made changes to their positions in the business. Harbour Investments Inc. bought a new stake in shares of High Income Securities Fund in the third quarter valued at approximately $333,000. L.M. Kohn & Company acquired a new stake in High Income Securities Fund during the third quarter worth $94,000. Rivernorth Capital Management LLC acquired a new position in shares of High Income Securities Fund in the 3rd quarter valued at $7,852,000. Quarry LP boosted its position in shares of High Income Securities Fund by 502,860.0% during the 3rd quarter. Quarry LP now owns 50,296 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 50,286 shares in the last quarter. Finally, SeaCrest Wealth Management LLC raised its position in High Income Securities Fund by 4.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 43,295 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 1,804 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

About High Income Securities Fund

High Income Securities Fund is a closed-ended balanced income mutual fund launched and managed by Putnam Investment Management, LLC. The fund is co-managed by Putnam Investments Limited. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.