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

High Income Securities Fund (NYSE:PCF)’s share price was up 1.1% on Friday . The company traded as high as $6.63 and last traded at $6.59. Approximately 79,749 shares were traded during mid-day 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 Up 1.1 %

The company has a fifty day moving average of $6.67 and a 200-day moving average of $6.68.

Insider Transactions at High Income Securities Fund

In other news, Director Gerald Hellerman purchased 10,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $6.66 per share, with a total value of $66,600.00. Following the purchase, the director now directly owns 14,325 shares in the company, valued at approximately $95,404.50. This represents a 231.21 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PCF. McClarren Financial Advisors Inc. boosted its position in shares of High Income Securities Fund by 72,966.7% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 4,384 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 4,378 shares in the last quarter. Eastern Bank acquired a new stake in shares of High Income Securities Fund during the third quarter worth about $48,000. Sea Otter Advisors LLC purchased a new position in shares of High Income Securities Fund in the 2nd quarter valued at approximately $70,000. L.M. Kohn & Company acquired a new position in High Income Securities Fund in the 3rd quarter valued at $94,000. Finally, Choreo LLC acquired a new position in shares of High Income Securities Fund during the second quarter worth about $110,000. 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.