|Bid||8.47 x 900|
|Ask||8.52 x 1000|
|Day's Range||8.47 - 8.50|
|52 Week Range||8.10 - 9.44|
|Beta (3Y Monthly)||0.29|
|PE Ratio (TTM)||35.12|
|Forward Dividend & Yield||0.58 (6.78%)|
|1y Target Est||N/A|
High Income Securities Fund, Inc. previously announced that, as long as the Fund continues to be a registered investment company, it intends, for the remainder of 2019, to make monthly distributions at an annual rate of at least 6% , based on the net asset value of the Fund’s common shares as of June 28, 2019.
High Income Securities Fund today announced that it intends to comply with the proxy voting requirements set forth in Section 12 of the Investment Company Act of 1940 by “mirror voting” its proxies for closed-end funds unless the Transitional Investment Committee determines that a vote is important, in which case it will seek proxy voting instructions from the Fund’s shareholders.
High Income Securities Fund today announced that the Fund will provide its net asset value per share as of the last trading day of each week and month on its website at https://highincomesecuritiesfund.com/ and to reporting agencies.
High Income Securities Fund (PCF) (the “Fund”) today announced that the Board of Trustees has determined to implement a Transitional Investment Strategy. Prior to the Fund’s recently completed self-tender offer, shareholders approved a proposal authorizing the Board of Trustees to take steps to cause the Fund to cease to be a registered investment company (RIC).
The High Income Securities Fund (PCF) (the “Fund”) today announced that its offer to purchase up to 55% of its outstanding shares (or approximately 7,111,696 shares) for cash at 99% of the per share net asset value (“NAV”) as determined at the close of the regular trading session of the New York Stock Exchange on March 18, 2019 expired at 5:00 p.m., Eastern Time on March 18, 2019. Based on information provided by Broadridge, Inc., the depository for the offer, a total of 7,365,350 shares or approximately 56.96% of the Fund’s outstanding shares were validly tendered. As the total number of shares tendered exceeds the number of shares the Fund offered to purchase and in accordance with the rules of the Securities and Exchange Commission allowing the Fund to purchase additional shares not to exceed 2% of the outstanding shares (approximately 258,607 shares) without amending or extending the offer, the Fund has elected to purchase all shares tendered at a price of $9.25 per share (99% of the NAV of $9.34).
To change the nature of the Fund’s business which is currently a registered investment company under the Investment Company Act of 1940 to a holding company and to cause the Fund to deregister as an investment company. To approve the reorganization of the Fund from a Massachusetts business trust into a newly established Delaware corporation. In addition, as disclosed in the Fund’s proxy statement for the special meeting, the Board of Trustees will consider the results of the special meeting and of the self-tender offer to determine whether to cause the Fund to de-register as an investment company.