High Income Securities Fund (NYSE:PCF) Short Interest Up 150.4% in May

High Income Securities Fund (NYSE:PCF) saw a large increase in short interest in May. As of May 15th, there was short interest totaling 21,972 shares, an increase of 150.4% from the April 30th total of 8,776 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 50,769 shares, the short-interest ratio is currently 0.4 days.

Insider Transactions at High Income Securities Fund

In other news, insider Phillip Goldstein bought 17,905 shares of High Income Securities Fund stock in a transaction on Wednesday, March 18th. The shares were bought at an average cost of $5.46 per share, for a total transaction of $97,761.30. Following the acquisition, the insider owned 41,353 shares in the company, valued at approximately $225,787.38. This trade represents a 76.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 23,593 shares of company stock valued at $128,809. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCF. Baird Financial Group Inc. purchased a new position in High Income Securities Fund in the 1st quarter valued at about $183,000. Raymond James Financial Inc. lifted its holdings in 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 valued at $2,160,000 after purchasing an additional 53,016 shares in the last quarter. Jane Street Group LLC purchased a new position in High Income Securities Fund in the 2nd quarter valued at about $199,000. Osaic Holdings Inc. lifted its holdings in High Income Securities Fund by 51.0% in the 2nd quarter. Osaic Holdings Inc. now owns 57,289 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 19,341 shares in the last quarter. Finally, Integrity Advisory Solutions LLC purchased a new position in High Income Securities Fund in the 3rd quarter valued at about $71,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

High Income Securities Fund Stock Performance

NYSE:PCF opened at $5.60 on Friday. The company’s 50-day moving average is $5.60 and its two-hundred day moving average is $5.91. High Income Securities Fund has a 12-month low of $5.36 and a 12-month high of $6.51.

High Income Securities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.058 dividend. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Tuesday, June 16th.

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.