Putnam High Income Securities Fund

MILWAUKEE, April 16, 2024 (GLOBE NEWSWIRE) -- 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 a date to be announced to purchase one additional share of the Fund's stock at a subscription price to be determined by the Board of Trustees. Rights holders that fully exercise their rights will also be entitled to subscribe, subject to certain limitations to be set forth in a prospectus (which shall be available on the website of the Securities and Exchange Commission at www.sec.gov) and subject to allotment, for additional shares of stock that are not subscribed for by other rights holders. If there are not enough unsubscribed shares available to honor all additional subscription requests, the Fund may, in its sole discretion, issue additional shares up to 10% of the shares initially available in the offering.

High Income Securities Fund Announces Non-Transferable Rights Offering

NEW YORK--(BUSINESS WIRE)--High Income Securities Fund, Inc. (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.

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

PCF is a closed-end fund managed by Bulldog Investors, known for shareholder activism campaigns. The fund's strategy is to acquire CEFs and BDCs that pay regular distributions at attractive discounts, with a small allocation to SPACs. PCF's performance has been underwhelming, and it currently trades at a discount to NAV. Better alternatives may exist.

PCF: A High Income Securities Fund In Decline

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

BlackRock Taxable Municipal Bond Trust

BlackRock Enhanced Equity Dividend Trust

BlackRock Floating Rate Income Trust

Morgan Stanley China A Share Fund Inc

Blackrock Debt Strategies Fund Inc

Eaton Vance Municipal Income 2028 Term Trust

First Trust Mortgage Income Fund

Blackrock Floating Rate Income Strategies Fund Inc

Templeton Global Income Fund

Western Asset High Income Fund

Western Asset High Yield Defined Opportunity Fund Inc

Western Asset Investment Grade Defined Opportunity Trust

Nuveen Mortgage Opportunity Term Fund

Deutsche Municipal Income Trust

Morgan Stanley Emerging Markets Debt Fund

Nuveen Municipal Credit Opportunities Fund

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

PIMCO Access Income Fund

PIMCO Income Strategy Fund II

Templeton Emerging Markets Income Fund

Stocks were up slightly as the jobs report shifted the narrative towards 'higher for longer.' The payroll report came in stronger than expected, but the narrative was that it was a hawkish report, meaning higher rates for longer. Discounts for CEFs continue to tread water, with real estate and interest rate-sensitive bond sectors performing well, while emerging market equity and convertibles performed poorly.

CEF Weekly Commentary | December 10, 2023 | High Quality Opportunities

The High Income Securities Fund (HIX) is a closed-end fund that focuses on generating high income through investments in closed-end funds, business development companies, and other high-yielding investment management firms. The fund's current yield of 11.07% is in line with many fixed-income closed-end funds in the market, but it is not a fixed-income fund. The fund's distribution has been declining since 2020, which may be a concern for income-seeking investors. The fund's net asset value has also declined over the past year.

PCF: An Interesting Fund For Income Hunters, But Distribution Still Looks Strained

NEW YORK--(BUSINESS WIRE)--High Income Securities Fund (NYSE: PCF) (the “Fund”), announced that the annual stockholders meeting convened on November 30, 2023, was adjourned and will reconvene on December 11, 2023 at 11:00 a.m., Eastern time, at the offices of Bulldog Investors, Park 80 West, 250 Pehle Avenue, Suite 708, Saddle Brook, NJ 07663.

High Income Securities Fund Announces Adjournment of Annual Stockholder Meeting

High Income Securities Fund offers a remarkable 12.04% yield, but this high yield may indicate an expectation of future reduction. The fund's portfolio consists of common equity securities issued by business development companies, which are quite rare to find in any closed-end fund. The fund's distribution has been inconsistent in the past, and its ability to sustain its current distribution is uncertain.

PCF: A Good Diversifier For An Income Portfolio, But Distribution Appears Strained

NEW YORK--(BUSINESS WIRE)--High Income Securities Fund, Inc. (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 2023, based on the net asset value of $7.25 of the Fund's common shares as of December 31.

High Income Securities Fund Announces Monthly Distributions For Fourth Quarter of 2023

Investors today are in desperate need of income in order to sustain their standard of living in the face of the current inflation crisis. High Income Securities Fund invests in a portfolio of BDCs and CEFs to provide its investors with a very high level of current income. It is surprisingly difficult to get information about this closed-end fund as management is not very transparent and various online sources differ.

PCF: Lack Of Transparency A Big Negative

ArrowMark Financial

Blackrock Health Sciences Trust

BlackRock Utilities Infrastructure & Power Opportunities Trust

Calamos Strategic Total Return Fund

Allspring Global Dividend Opportunity Fund

Eaton Vance Enhanced Equity Income Fund II

Nuveen Core Equity Alpha Fund

Barings Participation Investors

LMP Capital and Income Fund

For income investors, closed-end funds remain an attractive investment class that covers a variety of asset classes and promises high distributions and reasonable total returns. Closed-end funds, or CEFs, are generally characterized by higher volatility and deeper drawdowns than the broader market. For these reasons, they are not suited for everyone. In this monthly series, we highlight five CEFs that have solid track records, pay high distributions, and are offering "excess" discounts. We try to separate the wheat from the chaff using our filtering process to select just five CEFs every month from around 500 closed-end funds.

5 Best CEFs To Buy This Month (June 2023)

High Income Securities Fund Announces Monthly Distributions For Third Quarter of 2023

Liberty All-Star Growth Fund

BlackRock Resources & Commodities Strategy Trust

BlackRock Science & Technology

Eaton Vance Tax-Advantaged Global Dividend Income Fund

Eaton Vance Tax-Managed Global Diversified Equity Income Fund

Barings Corporate Investors

Tekla Healthcare Opportunities

For income investors, closed-end funds remain an attractive investment class that covers a variety of asset classes and promises high distributions and reasonable total returns. Closed-end funds, or CEFs, are generally characterized by higher volatility and deeper drawdowns than the broader market. For these reasons, they are not suited for everyone.

5 Best CEFs To Buy This Month (May 2023)

NEW YORK--(BUSINESS WIRE)--High Income Securities Fund, Inc. (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 2023, based on the net asset value of $7.

High Income Securities Fund Announces Monthly Distributions For Second Quarter of 2023

Investors are desperately in need of income as the high inflation has made it ever more difficult for us to sustain our standard of living. High Income Securities Fund invests in a portfolio of business development companies, closed-end funds, and preferred stock to provide a very high yield.

PCF: Good Strategy And Price, But A Few Concerns

NEW YORK--( BUSINESS WIRE )--High Income Securities Fund (NYSE: PCF) (the “Fund”) today announced that effective February 6, 2023 American Stock Transfer & Trust Company, LLC (“AST”) 6210 15th Avenue Brooklyn, NY 11219, Telephone 1-800-278-4353, will serve as Transfer Agent to the Fund. All account balances will remain the same.

High Income Securities Fund Announces New Transfer Agent

NEW YORK--( BUSINESS WIRE )--High Income Securities Fund, Inc. (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.

High Income Securities Fund Announces Monthly Distributions For First Quarter of 2023

PCF invests in a portfolio of income-focused CEFs and BDCs, which is quite different than most other funds. The fund does still invest in fixed-income securities itself, so it does still have exposure to interest rates.

PCF: A Unique CEF That Presents An Opportunity If It Can Maintain Its Distribution

Aberdeen Income Credit Strategies Fund

Alpine Global Dynamic Dividend Fund

Aberdeen Standard Global Infr Inc Fd

John Hancock Financial Opportunities Fund

Cornerstone Strategic Value Fund Inc

Cornerstone Total Return Fund Inc

Delaware Investments Dividend and Income Fund

Delaware Enhanced Global Dividend & Income Fund

Stone Harbor Emerging Markets Income Fund

Stone Harbor Emerging Markets Total Income Fund

Eagle Point Income Company Inc

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

First Trust / Aberdeen Emerging Opportunity Fund

Gabelli Equity Trust

Gabelli Convertible and Income Securities Fund

BlackRock Corporate High Yield Fund

Ivy High Income Opportunities Fund

Madison Fund

Macquarie Global Infrastructure Total Return Fund Inc

Nuveen Arizona Quality Municipal Income Fund

Virtus AllianzGI Convertible & Income Fund

Virtus AllianzGI Convertible & Income Fund II

Tortoise Energy Independence Fund, Inc.

Nuveen Missouri Quality Municipal Income Fund

Tortoise MLP Fund

RiverNorth Opportunities Fund, Inc.

Columbia Seligman Premium Technology Growth Func Inc

Tortoise Power and Energy Infrastructure Fund

Tortoise Pipeline & Energy Fund

Tortoise Energy Infrastructure

Delaware Investments

Virtus Total Return Fund

0 out of 23 CEF sectors are positive on price and 0 out of 23 sectors are positive on NAV over the last week. BlackRock CEFs are repurchasing their shares.

Weekly Closed-End Fund Roundup: BlackRock CEFs Repurchasing Shares (October 16, 2022)

NEW YORK--(BUSINESS WIRE)--High Income Securities Fund, Inc. (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 2022, based on the net asset value of $8.75 of the Fund's common shares as of December 31

High Income Securities Fund Announces Monthly Distributions For Fourth Quarter of 2022

PCF is managed by Bulldog Investors, an activist group in the CEF space. They know the allure of higher yields, which PCF has a 10% managed distribution plan.

PCF: An Interesting Portfolio At A Fair Valuation

The High Income Securities Fund (PCF) is a fund-of-funds with a small AUM of only $135 mm. PCF counts as its largest holdings other CEFs (26%), BDCs (17%), Preferred Stocks (20%), SPACs (20%) and Money market funds (11%).

PCF: Fund-Of-Funds CEF, Large 11.3% Dividend Yield

High Income Securities Fund Announces Monthly Distributions For Third Quarter of 2022

Last time we touched on PCF, the fund had been trading at a premium. That premium quickly ended with a dilutive rights offering, and 2022 hasn't helped that.

PCF: Discounted And A 10% Managed Distribution Plan

High Income Securities Fund Announces Monthly Distributions For Second Quarter of 2022

News for Putnam High Income Securities Fund ETF (PCF)