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PCF - High Income Sec...

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High Income Securities Fund

PCF

NYSE

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. It invests in both convertible bonds and convertible preferred stocks. The fund benchmarks the performance of its portfolio against a composite index comprising of 50% JPMorgan Developed High Yield Index and 50% BofA Merrill Lynch AllConvertibles Speculative Quality Index. The fund was formerly known as Putnam High Income Securities Fund High Income Securities Fund was formed on July 9, 1987 and is domiciled in the United States.

6.68 USD

0.03 (0.449%)

Historical Prices

From:

To:

6.636.646.656.666.676.686.696.709:30 AM09:37 AM09:40 AM10:05 AM10:22 AM10:26 AM10:49 AM11:17 AM11:23 AM11:50 AM12:05 PM12:10 PM12:36 PM12:52 PM01:47 PM02:10 PM02:33 PM02:41 PM03:36 PM03:59 PM

About

ceo

Mr. Andrew Dakos

sector

Financial Services

industry

Asset Management - Income

exchange

NYSE

Description

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. It invests in both convertible bonds and convertible preferred stocks. The fund benchmarks the performance of its portfolio against a composite index comprising of 50% JPMorgan Developed High Yield Index and 50% BofA Merrill Lynch AllConvertibles Speculative Quality Index. The fund was formerly known as Putnam High Income Securities Fund High Income Securities Fun...

CIK

0000810943

ISIN

US42968F1084

CUSIP

42968F108

Address

100 Federal Street

Phone

617 292 1000

Country

US

Employee

N/A

IPO Date

Jul 9, 1987

Financial Statement

-3M-2M-1M01M2M3M4M5M2022 Q32022 Q42023 Q22024 Q12024 Q2RevenueNet Income

Earnings

00.030.060.090.120.150.180.212023 Q12022 Q42023 Q22023 Q42024 Q12024 Q22024 Q32024 Q4EPS Consensus

PCF Financial Summary

CIK

0000810943

Exchange

NYSE

Industry

Asset Management - I...

Sector

Financial Services

CUSIP

42968F108

ISIN

US42968F1084

Country

US

Price

6.68

Beta

0.94

Volume Avg.

98.41k

Market Cap

125.03M

Shares

-

52-Week

6.19-7

DCF

0

ROE

-

ROA

-

Operating Margin

-

Debt/Equity

-

P/E

6.82

P/B

-

Website

https://www.putnam.com/individual/mutual-funds/clo...

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

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.

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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.

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PCF: An Interesting Fund For Income Hunters, But Distributio...

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 a...

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Oct 4, 2023

PCF: A Good Diversifier For An Income Portfolio, But Distrib...

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.

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