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

High Income Securities Fund (NYSE:PCF) declared a monthly dividend on Wednesday, April 3rd, Zacks reports. Stockholders of record on Friday, April 19th will be paid a dividend of 0.062 per share by the financial services provider on Tuesday, April 30th. This represents a $0.74 annualized dividend and a dividend yield of 11.81%. The ex-dividend date of this dividend is Thursday, April 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 High Income Securities Fund stock opened at $6.30 on Wednesday. High Income Securities Fund has a 52-week low of $5.71 and a 52-week high of $6.96. The company’s 50 day moving average price is $6.63 and its 200-day moving average price is $6.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers grew its holdings in shares of High Income Securities Fund by 0.3% in the first quarter. Cetera Investment Advisers now owns 896,638 shares of the financial services provider’s stock worth $5,828,000 after purchasing an additional 3,000 shares during the last quarter. Rivernorth Capital Management LLC lifted its stake in High Income Securities Fund by 29.1% in the first quarter. Rivernorth Capital Management LLC now owns 571,438 shares of the financial services provider’s stock worth $4,526,000 after acquiring an additional 128,815 shares during the period. Bank of America Corp DE lifted its stake in High Income Securities Fund by 9.9% in the first quarter. Bank of America Corp DE now owns 193,060 shares of the financial services provider’s stock worth $1,255,000 after acquiring an additional 17,360 shares during the period. Baird Financial Group Inc. lifted its stake in High Income Securities Fund by 2.4% in the fourth quarter. Baird Financial Group Inc. now owns 190,331 shares of the financial services provider’s stock worth $1,237,000 after acquiring an additional 4,535 shares during the period. Finally, LPL Financial LLC lifted its stake in High Income Securities Fund by 14.7% in the first quarter. LPL Financial LLC now owns 173,313 shares of the financial services provider’s stock worth $1,127,000 after acquiring an additional 22,250 shares during the period. 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.