High Income Securities Fund (NYSE:PCF) Trading 1.1% Higher – Should You Buy?

Shares of High Income Securities Fund (NYSE:PCF) rose 1.1% during trading on Friday . The company traded as high as $6.63 and last traded at $6.59. Approximately 79,749 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 209,174 shares. The stock had previously closed at $6.52.

High Income Securities Fund Trading Up 1.1 %

The company’s fifty day moving average is $6.67 and its two-hundred day moving average is $6.68.

Insiders Place Their Bets

In other news, Director Gerald Hellerman acquired 10,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were bought at an average price of $6.66 per share, for a total transaction of $66,600.00. Following the completion of the purchase, the director now directly owns 14,325 shares of the company’s stock, valued at approximately $95,404.50. This trade represents a 231.21 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On High Income Securities Fund

Large investors have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC acquired a new position in High Income Securities Fund in the 3rd quarter worth $7,890,000. Quarry LP increased its position in shares of High Income Securities Fund by 502,860.0% during the third quarter. Quarry LP now owns 50,296 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 50,286 shares during the last quarter. Harbour Investments Inc. acquired a new position in shares of High Income Securities Fund in the third quarter worth about $333,000. Wealth Enhancement Advisory Services LLC purchased a new position in High Income Securities Fund in the third quarter valued at about $252,000. Finally, Choreo LLC purchased a new position in High Income Securities Fund in the second quarter valued at about $110,000. 16.64% of the stock is owned by institutional investors and hedge funds.

High Income Securities Fund Company Profile

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.