High Income Securities Fund (NYSE:PCF) Share Price Passes Below 200 Day Moving Average – Should You Sell?

High Income Securities Fund (NYSE:PCF) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.93 and traded as low as $5.54. High Income Securities Fund shares last traded at $5.5750, with a volume of 80,361 shares trading hands.

High Income Securities Fund Stock Up 0.1%

The firm’s 50 day simple moving average is $5.60 and its 200-day simple moving average is $5.93.

High Income Securities Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.058 dividend. This represents a c) annualized dividend and a yield of 12.5%. The ex-dividend date is Tuesday, June 16th.

Insider Transactions at High Income Securities Fund

In related news, insider Phillip Goldstein acquired 17,905 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was bought at an average price of $5.46 per share, for a total transaction of $97,761.30. Following the completion of the purchase, the insider directly owned 41,353 shares of the company’s stock, valued at approximately $225,787.38. The trade was a 76.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 23,593 shares of company stock valued at $128,809 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On High Income Securities Fund

Large investors have recently bought and sold shares of the stock. Lido Advisors LLC acquired a new position in High Income Securities Fund in the first quarter valued at $66,000. Integrity Advisory Solutions LLC acquired a new position in High Income Securities Fund in the third quarter valued at $71,000. XTX Topco Ltd acquired a new position in High Income Securities Fund in the fourth quarter valued at $71,000. Bulldog Investors LLP boosted its stake in High Income Securities Fund by 30.4% in the first quarter. Bulldog Investors LLP now owns 13,961 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 3,256 shares in the last quarter. Finally, Kovack Advisors Inc. acquired a new position in High Income Securities Fund in the fourth quarter valued at $91,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

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.