High Income Securities Fund (PCF) Director Phillip Goldstein Buys 25,000 Shares

What Happened
Phillip Goldstein, a director and an affiliate of the fund’s adviser, made open-market purchases of PCF shares. He acquired 10,000 shares at $5.40 ($54,000) and 10,000 shares at $5.37 ($53,700) on August 19, 2026, and 5,000 shares at $5.34 ($26,700) on August 20, 2026 — a total of 25,000 shares for $134,400. These were purchases (transaction code P), which are generally considered a more bullish signal than sales but do not by themselves prove intent.

Key Details

• Transaction dates and prices:
  • 2026-08-19: 10,000 shares @ $5.40 = $54,000 (open-market/private purchase)
  • 2026-08-19: 10,000 shares @ $5.37 = $53,700 (open-market/private purchase)
  • 2026-08-20: 5,000 shares @ $5.34 = $26,700 (open-market/private purchase)
• Total acquired: 25,000 shares for $134,400.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnotes/plan info: No 10b5-1 plan, tax withholding, or other special notations provided in the excerpt.
• Filing timeliness: Report was filed Aug 21, 2026 — no late filing flag indicated in the provided record.

Context
These were straightforward purchases (no option exercises, gifts, or sales reported here). Goldstein is listed as a director and an affiliate of the adviser, not necessarily a 10% owner; that distinction can affect interpretation. As always, purchases by insiders are informative but should be considered alongside other factors (fund performance, market conditions) rather than viewed as definitive investment advice.