CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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High Income Securities Fund (PCF)

Taxable Bond Funds - High Yield Bond Funds

Data as of Oct. 15, 2019
Current
Market Price $8.49 (- $0.05)
NAV (Oct. 15, 2019) $9.54 ( $0.00)
Premium / Discount -11.01% (-0.52%)
Fund Info
Inception July 9, 1987
Sponsor High Income Securities Fund
Website https://highincomesecu...
Phone 1-888-898-4107
NAV Symbol XPCFX
Objective: High current income and capital appreciation by investing primarily in corporate and convertible bonds and preferred stock.
Capital & Leverage
Outstanding Shares 5,565,006
Total Assets (Reported: Feb. 28, 2019) $121M
Estimated Total Assets $53M
Net Assets $53M
Market Cap $47M
Purchases Turnover 36.45%
Sales Turnover 33.06%
Total Leverage 0.00%
Structural Leverage (out of total) 0.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 0.88%
Non Lev Exp Ratio 0.88%
Rel Lev Cost %
Discount Data
Average Discount (3 Yr) -6.97%
Discount Low(3 Yr) -14.11%
Discount High(3 Yr) -1.66%
Discount Rel Range 24.92%
Comp Discount -6.49
Discount St Dev (1Yr) 4.37
Z-Stat
Z-Stat (6mo) 0.35
Z-Stat (1Yr) -0.77
Z-Stat (3Yr) -1.27
Comp Z-Stat (6mo) -0.60
Comp Z-Stat (3Yr) -1.93
Distribution Data
Market Yield 6.78%
Income Yield 6.78%
Lev Adj NAV Yield 6.04%
Distribution Frequency M
Current Distribution $0.048
Current Income $0.048
Ex-Date 10/15/19
Payable Date 10/31/19
Div Growth (3yr) 55.34%
Dividend Change 69.6% on 7/19/19
Expected Div
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $186
Avg Volume 30 day 19,537
Avg Volume 90 day 21,878
Volume Trend -10.70%
Comp Volume Trend -6.40%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
12.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
17.0%
Price Correlation (1yr)
vs. CEFA's High Yield Bond Index
26.0%
Most Correlated Peer (Mk Pr): DSU 33.0%
NAV - Price Correlation (30 d) -44.2%
NAV - Price Correlation (90 d) 61.6%
NAV - Price Correlation (1 Yr) 14.4%
Price St Dev (1Yr) 7.9%
NAV St Dev (1Yr) 4.9%
Earnings
Earnings / Share (2/28/19) $0.010
Earn Coverage 20.63%
Earnings Trend Down
UNII / Share (2/28/19) $-0.020
Rel UNII -3.45
UNII Trend Down
Bond Specific Data
Maturity 5.10
Duration 4.18
Credit Rating (rbo) BB
Investment Grade 8.19%
Non Investment Grade 54.22%
Unrated Bonds 37.59%
Performance
NAV Beta (2yr)
vs. S&P 500 (TR)
0.12
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
0.05
NAV Beta (2yr)
vs. CEFA's High Yield Bond Index
0.03

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CEFData.com makes data for the universe of closed-end funds (CEFs) and business development companies (BDCs) available to its users. This material is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. This site does not list all the risks associated with each fund. Investors should contact a fund’s sponsor for fund-specific risk information and/or contact a financial advisor before investing.

NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

This material is presented for informational purposes only. Under no circumstances is it to be considered an offer to sell, or a solicitation to buy any investment referred to on this page. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and it should not be relied upon as such. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal. Returns are presented gross of investment management fees and other appropriate fees (i.e. commissions, custodial fees, etc.).

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