GuruFocus - On June 28, 2024, Phillip Goldstein, Director of High Income Securities Fund (NYSE:PCF), executed a significant transaction by selling 90,000 shares of the company. The transaction was filed with the SEC and can be viewed in detail through the SEC Filing. Following this sale, the insider now owns 9,773 shares of the company.
High Income Securities Fund (NYSE:PCF) is a closed-end fund that primarily invests in a diversified portfolio of fixed income securities. The fund aims to provide high current income with a secondary objective of capital appreciation.
The shares were sold at a price of $6.93, valuing the transaction at approximately $623,370. This price reflects the current market cap of the company at $120.785 million. The price-earnings ratio of High Income Securities Fund stands at 10.99, which is below both the industry median of 12.87 and the company's historical median.
Over the past year, Phillip Goldstein has sold a total of 234,600 shares and has not made any purchases. This recent sale is part of a broader trend observed in the company, where there have been more insider sales than buys. Specifically, there have been 2 insider sells and 3 insider buys over the last year.
Investors and analysts often monitor insider transactions as they can provide insights into the insider's view of the company's stock value and future performance. The recent sales by Phillip Goldstein might draw attention from the market, considering the insider's significant reduction in stake.
For more detailed valuation metrics such as price-sales ratio, price-book ratio, and price-to-free cash flow, interested parties can refer to the respective links provided.
For further analysis and updates on insider transactions, visit Phillip Goldstein's insider profile on GuruFocus.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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