Short Interest in High Income Securities Fund (NYSE:PCF) Grows By 81.2%

High Income Securities Fund (NYSE:PCF) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 45,687 shares, a growth of 81.2% from the June 30th total of 25,220 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 59,307 shares, the short-interest ratio is presently 0.8 days.

High Income Securities Fund Price Performance

NYSE PCF traded down $0.01 during mid-day trading on Friday, reaching $5.29. The stock had a trading volume of 78,740 shares, compared to its average volume of 47,044. High Income Securities Fund has a 1 year low of $5.23 and a 1 year high of $6.51. The company has a fifty day moving average price of $5.49 and a 200 day moving average price of $5.70.

High Income Securities Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be issued a $0.058 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Baird Financial Group Inc. purchased a new stake in shares of High Income Securities Fund during the first quarter valued at $183,000. Raymond James Financial Inc. boosted its stake in shares of High Income Securities Fund by 18.5% in the 2nd quarter. Raymond James Financial Inc. now owns 340,228 shares of the financial services provider’s stock worth $2,160,000 after buying an additional 53,016 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of High Income Securities Fund in the second quarter worth $199,000. Osaic Holdings Inc. increased its position in High Income Securities Fund by 51.0% during the second quarter. Osaic Holdings Inc. now owns 57,289 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 19,341 shares during the last quarter. Finally, Savvy Advisors Inc. purchased a new stake in shares of High Income Securities Fund during the 4th quarter valued at about $156,000. 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.