High Income Securities Fund (NYSE:PCF) Shares Pass Below 50 Day Moving Average – Should You Sell?

High Income Securities Fund (NYSE:PCF) shares 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 changing hands.

High Income Securities Fund Trading Down 0.3 %

The business’s fifty day moving average is $6.71 and its 200-day moving average is $6.70.

High Income Securities Fund Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd were paid a dividend of $0.0593 per share. The ex-dividend date of this dividend 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 stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.84, for a total transaction of $131,984.64. Following the completion of the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $48,776.04. This represents a 73.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Noble Wealth Management PBC purchased a new stake in High Income Securities Fund in the 4th quarter worth about $70,000. Total Wealth Planning & Management Inc. bought a new position in High Income Securities Fund during the fourth quarter worth about $80,000. L.M. Kohn & Company purchased a new position in shares of High Income Securities Fund in the third quarter worth about $94,000. Naviter Wealth LLC bought a new stake in shares of High Income Securities Fund in the fourth quarter valued at approximately $99,000. Finally, HighTower Advisors LLC purchased a new stake in shares of High Income Securities Fund during the 4th quarter valued at approximately $122,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

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.