PCF

High Income Securities Fund

PCF

Market cap $121M

Overview Fund Activity

6.45 USD

+0.03

0.47%

At close Updated Sep 12, 4:00 PM EDT

Pre-market

After hours

6.42

-0.03

0.47%

1 day

0.47%

5 days

0.78%

1 month

0.62%

3 months

1.42%

6 months

-3.01%

Year to date

-1.07%

1 year

-4.02%

5 years

-23.67%

10 years

-10.79%

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.

Financials Asset Management

0

Funds holding %

of 7,462 funds

–

Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

33% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 12

0% more first-time investments, than exits

New positions opened: 6 | Existing positions closed: 6

0.21% less ownership

Funds ownership: 19.42% [Q1] → 19.22% (-0.21%) [Q2]

2% less funds holding

Funds holding: 48 [Q1] → 47 (-1) [Q2]

5% less capital invested

Capital invested by funds: $24.2M [Q1] → $22.8M (-$1.33M) [Q2]

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Financial journalist opinion

High Income Securities Fund Announces Monthly Distributions For Third Quarter of 2025

NEW YORK, July 08, 2025 (GLOBE NEWSWIRE) -- High Income Securities Fund (NYSE: PCF) (the “Fund”) has 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.

High Income Securities Fund Announces Monthly Distributions For Third Quarter of 2025

PCF: Uninspiring Fund Of Funds Via The CEF Structure (Rating Downgrade)

PCF is a fund of funds CEF holding CEFs, BDCs, and SPACs, but lacks transparency in risk factors breakdowns. Performance lags peers like RIV and CEFS, with only a 44% five-year total return versus 60% and 100%, respectively. Its managed distribution policy is mostly covered, but high payouts and recent market euphoria increase downside risk.

PCF: Uninspiring Fund Of Funds Via The CEF Structure (Rating Downgrade)

PCF: An Ineffective Fund Of Funds

PCF offers a high dividend yield of 11.8%, but recent performance and dividend cuts raise concerns about sustainability and NAV growth. The fund's strategy focuses on assets trading at a discount to NAV, which may include underperforming investments, particularly in BDCs and closed-end funds. The current high interest rate environment negatively impacts PCF's price and earnings, with limited prospects for improvement until rates decrease.

PCF: An Ineffective Fund Of Funds

High Income Securities Fund Announces Monthly Distributions For Second 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.

High Income Securities Fund Announces Monthly Distributions For Second Quarter of 2025

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.

NFL Player Care Foundation, Microsoft Leap, and Atrium Announce New Class of NFL Legends

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.

High Income Securities Fund Announces Monthly Distributions For First Quarter of 2025

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.

High Income Securities Fund Adjourns Annual Meeting

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).

High Income Securities Fund Announces Results of Tender Offer

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.

CEF Weekly Review: Emerging Market Debt Remains A Tricky Income Holding

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.

Notes On The PCF Annual Shareholder Report And Rights Offering

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