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High Income Securities Fund Stock: price and insider trades · United States
1 insider bought €120k of shares over the last 90 days, the latest filed 21 Aug 2026.
High Income Securities Fund: what insiders have been doing
High Income Securities Fund is a Finance & Banking company. Its directors and officers file their transactions with SEC (Form 4). Between 18 October 2025 and 18 October 2026, 2 insiders published 10 filings.
No insider sold shares on the market over the period. Instead, the filings list 10 purchases totalling €291k, made by 2 insiders. Open-market purchases are the filings investors watch most closely, because the insider pays for the shares out of pocket. The largest single trade was a purchase of €85k by Goldstein Phillip, published on 19 March 2026. The buyers include 1 senior executive.
Across the 5,816 companies tracked on its exchange, the median is 19 filings; at 10 filings, this issuer sits below that mark. The full history, which starts in 2021, counts 30 purchases against 14 sales.
The data flag 1 purchase as part of a group of insiders buying within 30 days of each other. Purchases made close together by different insiders form what is called a cluster. The most recent open-market purchase was published on 21 August 2026, 58 days ago. Filings reach the SEC (Form 4) feed a median of 2 days after the trade. The legal deadline for a Form 4 is two business days after the transaction.
Elsewhere in the same sector, our signals recently picked up insider purchases at First Guaranty Bancshares, Inc. and BCB Bancorp Inc. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.
Insider Decl.
63
Thresholds
n/a
Buy Volume
€605,563
30 ops. · all time
Sell Volume
€1M
14 ops. · all time
Who traded when
BuySalePhillip Goldstein9 buys1 sale
Gerald Hellerman2 buys1 sale
Moritz A. Sell3 buys
Rajeev P. Das1 buy1 sale
Since the insiders bought
- -5.8%Entry US$5.38 · Close 15 Oct 2026 US$5.07
- -6.9%Entry US$6.09 · Close at T+90 US$5.67
- -8.5%Entry US$6.13 · Close at T+365 US$5.61
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Financial data
as of FY 2025FY ended August 2025 · cache
US$5.07
Analyst consensus
Income statement
RevenueUS$12.7M
Net incomeUS$11.4M63.2% margin
Valuation
PER (trailing)24.1x
P/Book0.8x
Beta0.62
Profitability & ownership
ROE3.2%
ROA2.2%
% insiders0.5%
% institutions33.2%
Last declaration on 21 August 2026
Declarations63 total
10,000 shares@ US$5.400.054% mcap0.8% of flowCommon StockSEC:0001398344-26-015264:0
Canonical exit: 17 Nov 2026 (T+90)
10,000 shares@ US$5.370.054% mcap0.8% of flowCommon StockSEC:0001398344-26-015264:1
Canonical exit: 17 Nov 2026 (T+90)
5,000 shares@ US$5.340.026% mcap0.4% of flowCommon StockSEC:0001398344-26-015264:2
Canonical exit: 18 Nov 2026 (T+90)
819 shares@ US$5.300.0043% mcap0.1% of flowCommon StockSEC:0001398344-26-013937:0
Canonical exit: 4 Nov 2026 (T+90)
5,088 shares@ US$5.4490.4% of flowCommon StockSEC:0001398344-26-006338:0
Canonical exit: 6 Jul 2026 (T+90)
600 shares@ US$5.530.0% of flowCommon StockSEC:0001398344-26-006338:1
Canonical exit: 7 Jul 2026 (T+90)
17,905 shares@ US$5.461.4% of flowCommon StockSEC:0001398344-26-005426:0
Canonical exit: 16 Jun 2026 (T+90)
7,514 shares@ US$6.050.6% of flowCommon StockSEC:0001104659-26-010360:0
Canonical exit: 3 May 2026 (T+90)
1,628 shares@ US$6.145538.1% of flowCommon StockSEC:0001104659-26-005122:0
Canonical exit: 16 Apr 2026 (T+90)
2,487 shares@ US$6.040.2% of flowCommon StockSEC:0001104659-25-122595:0
Canonical exit: 16 Mar 2026 (T+90)
789 shares@ US$5.951.0% of flowCommon StockSEC:0001104659-25-033807:0
Canonical exit: 8 Jul 2025 (T+90)
100 shares@ US$6.290.1% of flowCommon StockSEC:0001104659-25-033080:0
Canonical exit: 3 Jul 2025 (T+90)
10,000 shares@ US$6.841.1% of flowCommon StockSEC:0001104659-25-017481:0
114 shares@ US$6.713.3% of flowCommon StockSEC:0001104659-25-009735:0
1,624 shares@ US$6.502.3% of flowCommon StockSEC:0001104659-25-002594:0
Canonical exit: 8 Apr 2025 (T+90)
259 shares@ US$6.47260.3% of flowCommon StockSEC:0001104659-24-132545:0
2,000 shares@ US$6.342.3% of flowCommon StockSEC:0001104659-24-131359:0
Canonical exit: 19 Mar 2025 (T+90)
5,000 shares@ US$6.695.9% of flowCommon StockSEC:0001104659-24-129801:0
Canonical exit: 16 Mar 2025 (T+90)
998 shares@ US$7.0729.7% of flowCommon StockSEC:0001104659-24-128969:0
233,119 shares@ US$7.0725.9% of flowCommon StockSEC:0001104659-24-128973:0
38,142 shares@ US$7.0747.8% of flowCommon StockSEC:0001104659-24-128974:0
94,433 shares@ US$7.0735.8% of flowCommon StockSEC:0001104659-24-128965:0
4,851 shares@ US$7.0750.5% of flowCommon StockSEC:0001104659-24-128971:0
33,699 shares@ US$7.0751.1% of flowCommon StockSEC:0001104659-24-128975:0
2,441 shares@ US$6.482.7% of flowCommon StockSEC:0001104659-24-090894:0
25 of 63 declarations
About High Income Securities Fund
High Income Securities Fund (ticker: PCF) is a U.S.-based closed-end investment company listed on the NYSE in the United States. For investors, it is best understood not as an operating business, but as a listed income fund designed to pursue regular distributions through an actively managed portfolio. PCF trades on the New York Stock Exchange under the symbol PCF, giving it visibility among U.S. income-oriented closed-end funds.
The fund has a long operating history dating back to 1987, which gives it a multi-decade track record in the U.S. closed-end fund universe. A meaningful governance and management change occurred on November 8, 2024, when the fund entered into an investment management agreement with Bulldog Investors, LLP. That shift is important because it reflects a strategic reset in how the portfolio is managed and how the fund seeks to source income and event-driven upside.
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PCF’s core mandate is to invest primarily in income-producing or dividend-paying securities in both the United States and non-U.S. markets. Based on the fund’s recent semiannual report, the portfolio may include high-yield debt, fixed- and floating-rate income instruments, REITs, preferred stocks, dividend-paying common stocks, convertible securities, closed-end funds, ETFs, and business development companies. The adviser may also use derivatives, warrants, and, where deemed beneficial, leverage. In other words, PCF is a diversified income vehicle with a flexible mandate rather than a narrow sector fund.
From a competitive standpoint, the fund’s appeal lies in its ability to combine income generation with opportunistic security selection. It can look beyond plain-vanilla bonds and common equity to exploit pricing inefficiencies and liquidity events. The fund’s approach may also involve engaging with portfolio companies when appropriate, for example encouraging share repurchases, special dividends, or restructuring actions that could improve value realization. That activist-capable framework differentiates it from many passive income products.
Recent disclosures provide useful context. In the semiannual report for the period ended February 28, 2026, PCF reported net assets of about $124.7 million and net asset value of $6.66 per share. The portfolio was materially exposed to U.S. and Cayman Islands risk through its underlying holdings, underscoring that this is an internationally oriented income strategy despite its U.S. listing. The fund also announced monthly distributions for the second quarter of 2026, reinforcing its role as a distribution-focused investment product. In addition, recent SEC Form 4 filings indicate insider-reporting activity that investors may want to monitor as part of a broader governance and sentiment review.
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