High Income Securities Fund (NYSE:PCF) Plans $0.06 Monthly Dividend

High Income Securities Fund (NYSE:PCF) declared a monthly dividend on Monday, April 8th, Wall Street Journal reports. Stockholders of record on Wednesday, June 19th will be paid a dividend of 0.0622 per share by the financial services provider on Friday, June 28th. This represents a $0.75 annualized dividend and a dividend yield of 11.40%. The ex-dividend date of this dividend is Tuesday, June 18th.

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

High Income Securities Fund Stock Performance

Shares of PCF stock opened at $6.55 on Tuesday. The firm’s 50 day moving average price is $6.63 and its 200-day moving average price is $6.38. High Income Securities Fund has a one year low of $5.71 and a one year high of $6.96.

Institutional Investors Weigh In On High Income Securities Fund

A number of hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its holdings in High Income Securities Fund by 0.3% during the 1st quarter. Cetera Investment Advisers now owns 896,638 shares of the financial services provider’s stock worth $5,828,000 after buying an additional 3,000 shares in the last quarter. Rivernorth Capital Management LLC increased its position in shares of High Income Securities Fund by 29.1% in the 1st quarter. Rivernorth Capital Management LLC now owns 571,438 shares of the financial services provider’s stock valued at $4,526,000 after purchasing an additional 128,815 shares during the last quarter. Bank of America Corp DE increased its position in shares of High Income Securities Fund by 9.9% in the 1st quarter. Bank of America Corp DE now owns 193,060 shares of the financial services provider’s stock valued at $1,255,000 after purchasing an additional 17,360 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of High Income Securities Fund by 2.4% in the 4th quarter. Baird Financial Group Inc. now owns 190,331 shares of the financial services provider’s stock valued at $1,237,000 after purchasing an additional 4,535 shares during the last quarter. Finally, LPL Financial LLC increased its position in shares of High Income Securities Fund by 14.7% in the 1st quarter. LPL Financial LLC now owns 173,313 shares of the financial services provider’s stock valued at $1,127,000 after purchasing an additional 22,250 shares during the last quarter. 16.64% of the stock is currently 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.