High Income Securities Fund (NYSE:PCF) Shares Cross Above 50-Day Moving Average – Time to Sell?

High Income Securities Fund (NYSE:PCF)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.44 and traded as high as $5.50. High Income Securities Fund shares last traded at $5.4650, with a volume of 82,919 shares changing hands.

High Income Securities Fund Stock Performance

The firm has a 50 day moving average price of $5.44 and a two-hundred day moving average price of $5.64.

High Income Securities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a $0.058 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend is Tuesday, September 22nd.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PCF. Saba Capital Management L.P. purchased a new position in High Income Securities Fund during the first quarter worth about $983,000. Absolute Investment Advisers LLC purchased a new position in shares of High Income Securities Fund during the 4th quarter valued at about $1,027,000. Quarry LP bought a new position in High Income Securities Fund during the fourth quarter valued at approximately $396,000. Raymond James Financial Inc. grew its stake in shares of High Income Securities Fund by 15.9% during the third quarter. Raymond James Financial Inc. now owns 394,391 shares of the financial services provider’s stock valued at $2,504,000 after buying an additional 54,163 shares during the last quarter. Finally, Rivernorth Capital Management LLC purchased a new position in High Income Securities Fund in the 4th quarter worth approximately $323,000. 16.64% of the stock is owned by institutional investors.

About High Income Securities Fund

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.