High Income Securities Fund (NYSE:PCF) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Shares of High Income Securities Fund (NYSE:PCF) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.71 and traded as low as $6.61. High Income Securities Fund shares last traded at $6.62, with a volume of 36,157 shares trading hands.

High Income Securities Fund Stock Performance

The firm’s 50 day moving average is $6.71 and its 200 day moving average is $6.70.

High Income Securities Fund Cuts Dividend

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

Insider Buying and Selling

In other High Income Securities Fund news, Director Phillip Goldstein sold 19,296 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.84, for a total value of $131,984.64. Following the completion of the transaction, the director now owns 7,131 shares of the company’s stock, valued at $48,776.04. The trade was a 73.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On High Income Securities Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Noble Wealth Management PBC purchased a new position in shares of High Income Securities Fund during the fourth quarter worth approximately $70,000. Total Wealth Planning & Management Inc. purchased a new position in High Income Securities Fund in the 4th quarter worth $80,000. L.M. Kohn & Company bought a new stake in High Income Securities Fund in the third quarter worth $94,000. Naviter Wealth LLC bought a new stake in High Income Securities Fund in the fourth quarter worth $99,000. Finally, HighTower Advisors LLC bought a new position in shares of High Income Securities Fund during the fourth quarter valued at about $122,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

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.