PCF

High Income Securities Fund
PCF

$6.68

0.74%

Market Cap: $196M

0

Funds holding %

of 6,728 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

75% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 8

33% more capital invested

Capital invested by funds: $19.9M [Q1] → $26.4M (+$6.52M) [Q2]

14% more funds holding

Funds holding: 42 [Q1] → 48 (+6) [Q2]

10% more repeat investments, than reductions

Existing positions increased: 11 | Existing positions reduced: 10

4.79% more ownership

Funds ownership: 16.77% [Q1] → 21.56% (+4.79%) [Q2]

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Research analyst outlook

We haven’t received any recent analyst ratings for PCF.

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Financial journalist opinion

High Income Securities Fund Announces Special Meeting

MILWAUKEE, Sept. 16, 2024 (GLOBE NEWSWIRE) -- High Income Securities Fund (the “Fund”) (NYSE: PCF) announced today that a special meeting of shareholders will be held on Friday, October 18, 2024 at 10:30 am at the office of Bulldog Investors, LLP, 250 Pehle Avenue, Suite 708, Saddle Brook, NJ 07663 to consider, among other things, (1) the Fund entering into an investment advisory agreement with Bulldog Investors, LLP, and (2) changes to the Fund's investment strategies and fundamental policies in order to expand the types of investments the Fund can make and to increase the Fund's ability to pursue attractive investment opportunities. Shortly after the special meeting is held, the Fund's Board of Trustees intends to authorize a tender offer by the Fund to purchase at least (a) 90% of the number of shares issued in the rights offering that concluded on August 9, 2024 if the proposals are adopted, or (b) 60% of the number of shares issued in the rights offering if the proposals are not adopted, at a price of at least 98% of NAV.

High Income Securities Fund Announces Special Meeting

CEF Weekly Review: Not Everything Is An Arbitrage

We review the CEF market valuation and performance through the third week of August and highlight recent market action. CEFs had a strong week, with most sectors finishing in the green, supported by lower Treasury yields. Tortoise plans to merge three MLP-focused CEFs into a new ETF, potentially eliminating discounts but don't call it an arbitrage.

CEF Weekly Review: Not Everything Is An Arbitrage

CEF Weekly Review: PCF Tries To Get Shareholders To Care

We review CEF market valuation and performance through the second week of August and highlight recent market action. CEFs were mixed, with MLP funds recovering while REIT funds struggled. The CEF, High Income Securities Fund, is implementing a novel strategy to get its initiatives approved by shareholders.

CEF Weekly Review: PCF Tries To Get Shareholders To Care

High Income Securities Fund Announces Expiration of Rights Offering

NEW YORK--(BUSINESS WIRE)--High Income Securities Fund (the “Fund”) (NYSE: PCF) announced today that its non-transferable rights offering to purchase up to 17,530,463 additional shares of its common stock expired on August 9, 2024. The total number of shares to be issued to subscribing Rights Holders is 11,859,975. The Subscription Price is $6.48 which is lower than the Estimated Subscription Price of $6.53. Refunds will be made to those Rights Holders that elected to receive a refund of such e.

High Income Securities Fund Announces Expiration of Rights Offering

High Income Securities Fund Provides Update on Rights Offering

NEW YORK--(BUSINESS WIRE)--High Income Securities Fund (“the Fund”) (NYSE: PCF) announced today that the Fund's net asset value per share (NAV) will be posted daily on its website at High Income Securities Fund – High Income Securities Fund from August 5, 2024 until its rights offering expires. As previously announced, the Fund issued one non-transferable right for each share of the Fund held on July 8, 2024 to purchase one additional share of the Fund at the greater of (1) 97% of the volume we.

High Income Securities Fund Provides Update on Rights Offering

PCF's Rights Offer, Tender Offer, Or Both? What's Going On Here?

High Yield Securities has recently declared a "Rights Offering" which, on its face, doesn't appear all that enticing. The Offering contains a price discount described in a complex formula; but you can buy shares at the same price in the market, so why bother with the rights offering? When we read the fine print, we see a silver lining; the Rights Offering is a "prelude" to what looks to be a more attractive Tender Offer later on.

PCF's Rights Offer, Tender Offer, Or Both? What's Going On Here?

High Income Securities Fund Announces Terms of Rights Offering

NEW YORK--(BUSINESS WIRE)--High Income Securities Fund (“the Fund”) (NYSE: PCF) announced today that its Board of Trustees has authorized the issuance of one non-transferable right for each share of the Fund held on July 8, 2024 to purchase one additional share of the Fund at the greater of (1) 97% of the volume weighted average price of the Fund's shares for the three-day period ending on the expiration date, and (2) 85% of the net asset value (NAV) of the Fund's shares on the expiration date.

High Income Securities Fund Announces Terms of Rights Offering

High Income Securities Fund Announces Monthly Distributions For Third Quarter of 2024

NEW YORK--(BUSINESS WIRE)--High Income Securities Fund (NYSE: PCF) (the “Fund”) today announced that the Fund's Board of Trustees (the “Board”) has declared the next three monthly distributions under the Fund's managed distribution plan. Under the Fund's managed distribution plan, the Fund intends to make monthly distributions to common stockholders at an annual rate of 10% (or 0.8333% per month) for 2024, based on the net asset value of $7.46 of the Fund's common shares as of December 31, 2023.

High Income Securities Fund Announces Monthly Distributions For Third Quarter of 2024

High Income Securities Fund Announces Revised Record Date for June 2024 Distribution

NEW YORK--(BUSINESS WIRE)--High Income Securities Fund (NYSE: PCF) announced today that the record date for the previously announced monthly distribution of $0.0622 per share payable on June 28, 2024 has been changed from June 19, 2024 to June 18, 2024.

High Income Securities Fund Announces Revised Record Date for June 2024 Distribution

PCF: This Unique CEF Has Improved A Lot Over The Past 6 Months

The High Income Securities Fund offers a high current yield of 11.64%, which compares reasonably well to most of its peers. The fund's share price has been relatively flat over the past few months, but most of its total returns come from the distributions that are paid out. The fund's asset allocation includes a significant weighting in other closed-end funds, and it has recently reduced its holdings in business development companies.

PCF: This Unique CEF Has Improved A Lot Over The Past 6 Months

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