2024-05-06 03:35:05 ET
Summary
- 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.
- The fund has improved its distribution coverage and actually managed to fully cover it during the first half of the current fiscal year.
- The fund is trading at an enormous discount to net asset value.
The High Income Securities Fund ( PCF ) is a closed-end fund that many income-focused investors employ as a method of achieving their goals of receiving a significant amount of current income from their assets. On the surface, the fund certainly appears to do very well here, as its 11.64% current yield is one of the highest yields available in the market today. The fund's yield compares quite well to that of its peers:
Fund Name | Morningstar Classification | Current Yield |
High Income Securities Fund | Fixed Income-Taxable-Convertibles | 11.64% |
Advent Convertible & Income Fund ( AVK ) | Fixed Income-Taxable-Convertibles | 11.78% |
Calamos Convertible & High Income Fund ( CHY ) | Fixed Income-Taxable-Convertibles | 10.73% |
Ellsworth Growth and Income Fund ( ECF ) | Fixed Income-Taxable-Convertibles | 6.65% |
Virtus Convertible & Income Fund ( NCV ) | Fixed Income-Taxable-Convertibles | 12.63% |
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For further details see:
PCF: This Unique CEF Has Improved A Lot Over The Past 6 Months