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

High Income Securities Fund (NYSE:PCF) shares rose 1.1% during mid-day trading on Friday . The stock traded as high as $6.63 and last traded at $6.59. Approximately 79,749 shares were traded during 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 Stock Performance

The business has a 50 day moving average of $6.67 and a 200 day moving average of $6.68.

Insiders Place Their Bets

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

Institutional Investors Weigh In On High Income Securities Fund

Hedge funds have recently modified their holdings of the business. McClarren Financial Advisors Inc. grew its holdings in High Income Securities Fund by 72,966.7% in the third quarter. McClarren Financial Advisors Inc. now owns 4,384 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 4,378 shares during the last quarter. Eastern Bank purchased a new stake in High Income Securities Fund in the third quarter valued at about $48,000. Sea Otter Advisors LLC purchased a new stake in High Income Securities Fund in the second quarter valued at about $70,000. L.M. Kohn & Company acquired a new stake in High Income Securities Fund in the third quarter worth about $94,000. Finally, Choreo LLC purchased a new stake in shares of High Income Securities Fund during the second quarter worth about $110,000. 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.