Welcome to our dedicated page for High Income Securities Fund news (Ticker: PCF), a resource for investors and traders seeking the latest updates and insights on High Income Securities Fund stock.
High Income Securities Fund (NYSE: PCF) is a closed-end management investment company focused on providing high current income with a secondary objective of capital appreciation. The Fund achieves these goals primarily through investments in convertible bonds and convertible preferred stocks. Additionally, the Fund also seeks opportunities in high-yielding non-convertible securities that hold potential for capital growth.
The investment strategy of High Income Securities Fund is designed to leverage the benefits of convertible securities, which offer the potential for equity-like returns with the added stability of fixed-income assets. This dual approach helps balance income generation with the opportunity for capital gains, catering to investors seeking both steady income and growth potential.
As of the latest update, the Fund’s Board of Trustees has approved the issuance of non-transferable rights to purchase additional shares of the Fund’s stock. Shareholders will receive one right for each share held, with the option to buy additional shares at a subscription price determined by the Board. This initiative aims to enhance shareholder value and provide opportunities for increased investment in the Fund.
Through its strategic investments and proactive management, High Income Securities Fund continually seeks to optimize returns for its shareholders. The Fund remains committed to identifying high-potential securities while maintaining a diversified portfolio to manage risk effectively.
High Income Securities Fund (NYSE: PCF) announced its next three monthly distributions under its managed distribution plan, maintaining an annual distribution rate of 10%, equivalent to 0.8333% monthly. Distributions for April, May, and June 2022 are set at $0.073 per share. The record and payable dates for these distributions are respectively April 20/29, May 19/31, and June 21/30, 2022. The Fund may distribute capital gains and return of capital if net investment income is insufficient. The Board retains the right to amend or terminate the plan without notice, which could impact the share price.
High Income Securities Fund (NYSE: PCF) has declared the next three monthly dividends under its managed distribution plan. The Fund aims to distribute an annual rate of 10% based on a net asset value of
The High Income Securities Fund (NYSE: PCF) has concluded its non-transferable rights offering as of October 22, 2021. A total of 8,042,590 shares will be issued to Rights Holders who subscribed. The Subscription Price was set at $8.36, which is lower than the Estimated Subscription Price of $8.77. Refunds will be issued to those who opted for a reimbursement of the excess amount paid for the shares, while others will receive additional shares.
The High Income Securities Fund (NYSE: PCF) has issued a notice to Rights Holders regarding its non-transferable rights offering. The notice outlines that if the Estimated Subscription Price exceeds the Subscription Price on the Expiration Date, excess payments will be allocated towards purchasing additional Shares unless a Rights Holder specifies otherwise. Rights Holders are advised to communicate any preferences regarding excess amounts to their nominees if applicable. For inquiries, they can contact InvestorCom at (877) 972-0090.
The High Income Securities Fund (PCF) has announced a non-transferable rights offering to shareholders, allowing them to purchase up to 9,487,873 additional shares of beneficial interest. Shareholders of record on September 22, 2021, will receive one right per share owned. The offering will remain open until 5:00 p.m. on October 22, 2021. The subscription price will be determined post-offering, but will not be less than 85% of the net asset value (NAV) on that date. If the market price falls below 95% of NAV, the Fund may consider a self-tender offer.
The High Income Securities Fund (NYSE: PCF) announced its intention to make monthly distributions at an annual rate of at least 10%, equating to 0.8333% monthly. As per the last business day of 2020, the net asset value of the Fund’s common shares was $9.34. For the upcoming months, each distribution is set at $0.078, scheduled for October 29, November 30, and December 31, 2021. The Fund cautioned that distributions might include a return of capital if sufficient investment income is unavailable.
High Income Securities Fund (NYSE: PCF) plans monthly distributions at an annual rate of at least 10%, equating to $0.078 per share for July, August, and September 2021. The fund's distribution is based on a net asset value of $9.34 as of the last business day of 2020. Record dates are set for July 21, August 20, and September 21, 2021, with payable dates on July 30, August 31, and September 30, 2021. Note that distributions may include a return of capital if investment income is insufficient.
High Income Securities Fund (NYSE: PCF) announces plans for monthly distributions totaling at least 10% annually, equating to $0.078 per share for April, May, and June 2021, based on a net asset value of $9.34 as of December 2020. Key dates for distribution include April 30, May 28, and June 30, 2021. The Fund notes that if sufficient investment income is unavailable, distributions may involve a return of capital. An estimate of the distribution composition will be provided to stockholders, with details reported on Form 1099-DIV for tax purposes.
High Income Securities Fund (NYSE: PCF) announced the expiration of its rights offering on January 29, 2021, allowing for the purchase of up to 5,565,006 additional shares. Subscription requests totaled 3,858,789 shares, with the final subscription price set at $8.24, determined by a formula based on market price and net asset value. This price exceeded the estimated $7.91 set in the prospectus. Shareholders must pay an additional $0.33 per share for the newly issued shares.
High Income Securities Fund (NYSE: PCF) has extended the Expiration Date of its rights offering from January 22, 2021, to January 29, 2021. This decision comes after reports of custodians setting earlier cut-off dates, which affected clients' awareness. The Fund has received requests for 3,296,883 shares so far. Rights holders can purchase additional shares not taken by others, and the subscription price will be determined post-Expiration Date, estimated at $7.91. This announcement does not constitute an offer to sell securities.
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