PCF
High Income Securities FundPCF
PCF
About: High Income Securities Fund is a closed-end management investment company. Its primary objective is to provide high current income and capital appreciation is the secondary objective. The Fund pursues its objective primarily by investing in both convertible bonds and convertible preferred stocks. The Fund also invests significantly in high-yielding non-convertible securities with the potential for capital appreciation.
0
Funds holding %
of 7,351 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
9% less funds holding
Funds holding: 53 [Q3] → 48 (-5) [Q4]
13% less first-time investments, than exits
New positions opened: 14 | Existing positions closed: 16
21.96% less ownership
Funds ownership: 42.03% [Q3] → 20.08% (-21.96%) [Q4]
40% less repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 15
71% less capital invested
Capital invested by funds: $84.3M [Q3] → $24.6M (-$59.8M) [Q4]
100% less funds holding in top 10
Funds holding in top 10: 3 [Q3] → 0 (-3) [Q4]
Research analyst outlook
We haven’t received any recent analyst ratings for PCF.
Financial journalist opinion
Neutral
Business Wire
1 month ago
NFL Player Care Foundation, Microsoft Leap, and Atrium Announce New Class of NFL Legends
NEW YORK--(BUSINESS WIRE)--Atrium partners again with NFL Player Care Foundation and Microsoft Leap for job readiness programs to prepare NFL Legends for careers in technology.
Neutral
Business Wire
1 month ago
High Income Securities Fund Announces Monthly Distributions For First Quarter of 2025
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 2025, based on the net asset value of $7.11 of the Fund's common shares as of December 31, 2024.
Neutral
Business Wire
2 months ago
High Income Securities Fund Adjourns Annual Meeting
NEW YORK--(BUSINESS WIRE)--High Income Securities Fund (NYSE: PCF) announced that the annual stockholder meeting convened on December 27, 2024 and was adjourned until January 3, 2025 at 11:00 a.m., Eastern time to afford stockholders additional time to vote their shares.
Neutral
GlobeNewsWire
2 months ago
High Income Securities Fund Announces Results of Tender Offer
MILWAUKEE, Dec. 10, 2024 (GLOBE NEWSWIRE) -- High Income Securities Fund (NYSE: PCF) (the “Fund”) announced that its tender offer to purchase up to 10,675,000 of the Fund's shares for cash at 98% of the per share net asset value (“NAV”) on the expiration date expired on December 9, 2024. Based on information provided by Equiniti, the depository for the tender offer, a total of 11,885,085 shares were validly tendered. As the total number of shares tendered exceeds 10,675,000 shares, approximately 90% of the shares tendered by each tendering shareholder will be accepted for payment at a price of $7.07 per share (98% of the NAV per common share of $7.21).
Neutral
Seeking Alpha
3 months ago
CEF Weekly Review: Emerging Market Debt Remains A Tricky Income Holding
We review the CEF market valuation and performance through the third week of November and highlight recent market action. CEFs had a positive week, with most sectors gaining except for higher-quality sectors like Munis and Agencies. MLPs led month-to-date returns with double-digit gains. The Western Asset Emerging Market Debt Fund raised its distribution by 4%, but its 70% coverage ratio makes it less appealing.
Positive
Seeking Alpha
3 months ago
Notes On The PCF Annual Shareholder Report And Rights Offering
Detailed review of High Income Securities Fund's annual shareholder report compared to the semi-annual report holdings. PCF announced a tender offer to purchase up to 10,675,000 shares at 98% NAV, expiring on December 9, 2024. Significant portfolio changes include trimming or selling positions in several closed-end funds and BDCs, while adding new positions in others.
Neutral
GlobeNewsWire
3 months ago
High Income Securities Fund Announces Results of Special Meeting and Commencement of Tender Offer
MILWAUKEE, Nov. 08, 2024 (GLOBE NEWSWIRE) -- High Income Securities Fund (the “Fund”) (NYSE: PCF) announced that at special meeting of shareholders today, shareholders approved all proposals except a proposal to amend the Fund's Declaration of Trust to eliminate the requirement that a proposal to convert the Fund to an open-end mutual fund be submitted to shareholders under certain circumstances.
Positive
Seeking Alpha
4 months ago
Update On The Upcoming PCF Tender Offer
The High Income Securities Fund has proposed changes to investment strategies, including SPACs and leverage, to enhance returns. The Board has tried to increase shareholder meeting participation through a rights offering, special meeting, and tender offer, rewarding shareholders if the proposals are approved. The special shareholder meeting was adjourned due to insufficient votes, with another meeting scheduled for November 8, 2024.
Neutral
GlobeNewsWire
4 months ago
High Income Securities Fund Adjourns Special Meeting
MILWAUKEE, Oct. 18, 2024 (GLOBE NEWSWIRE) -- High Income Securities Fund (the “Fund”) (NYSE: PCF) announced today that its special meeting of shareholders was convened today and has been adjourned until Friday, November 8, 2024 at 10:30 am at the office of Bulldog Investors, LLP, 250 Pehle Avenue, Suite 708, Saddle Brook, NJ 07663.
Positive
Seeking Alpha
5 months ago
CEF Weekly Review: CEFs Rally Through First Fed Cut
We review the CEF market valuation and performance through the third week of September and highlight recent market action. Most CEF sectors rose, led by preferreds and convertibles. The DTF Tax-Free Income 2028 Term Fund Inc. offers a high pull-to-NAV yield and low-risk profile with no leverage.
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