High Income Securities Fund (NYSE:PCF) Raises Dividend to $0.06 Per Share

High Income Securities Fund (NYSE:PCF) announced a monthly dividend on Friday, April 5th, Wall Street Journal reports. Stockholders of record on Tuesday, May 21st will be paid a dividend of 0.0622 per share by the financial services provider on Friday, May 31st. This represents a $0.75 dividend on an annualized basis and a dividend yield of 11.50%. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from High Income Securities Fund’s previous monthly dividend of $0.06.

High Income Securities Fund has decreased its dividend payment by an average of 9.7% per year over the last three years and has increased its dividend annually for the last 1 consecutive years.

High Income Securities Fund Trading Down 0.8 %

NYSE PCF traded down $0.05 during trading hours on Friday, hitting $6.49. 216,305 shares of the stock were exchanged, compared to its average volume of 80,561. High Income Securities Fund has a 12-month low of $5.71 and a 12-month high of $6.96. The stock has a 50-day moving average of $6.63 and a 200 day moving average of $6.39.

Institutional Trading of High Income Securities Fund

A number of hedge funds have recently bought and sold shares of PCF. Baird Financial Group Inc. increased its stake in High Income Securities Fund by 4.1% during the 4th quarter. Baird Financial Group Inc. now owns 90,348 shares of the financial services provider’s stock worth $580,000 after buying an additional 3,590 shares during the period. Advisory Services Network LLC raised its holdings in shares of High Income Securities Fund by 39.9% in the 4th quarter. Advisory Services Network LLC now owns 18,659 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 5,317 shares in the last quarter. LPL Financial LLC raised its holdings in shares of High Income Securities Fund by 35.0% during the third quarter. LPL Financial LLC now owns 115,468 shares of the financial services provider’s stock valued at $715,000 after acquiring an additional 29,950 shares during the period. UBS Group AG grew its position in High Income Securities Fund by 100.3% in the third quarter. UBS Group AG now owns 9,292 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 4,654 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in High Income Securities Fund by 15.2% in the second quarter. Osaic Holdings Inc. now owns 168,725 shares of the financial services provider’s stock worth $1,093,000 after acquiring an additional 22,237 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

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.