High Income Securities:PCF

    Manage Alerts

    Overview

    As of 5/20/2022

     Share
    Price
    NAVPremium/
    Discount
    Current$7.61$7.97-4.52%
    52 Wk Avg$8.98$9.00-0.34%
    52 Wk High$10.09$9.437.49%
    52 Wk Low$7.45$7.97-10.67%
    Regular Distribution TypeIncome Only
    Distribution Rate11.51%
    Distribution Amount$0.0730
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund seeks high current income as its primary investment objective and capital appreciation as a secondary objective. The Fund pursues its objective primarily by investing, under normal circumstances, at least 80% of its net assets in discounted securities of income-oriented closed-end investment companies, business development companies, fixed income securities, including debt instruments, convertible securities, preferred stocks and special purpose acquisition companies. The Fund also invests in high-yielding non-convertible securities with the potential for capital appreciation.

    Capital Structure

    As of 5/20/2022

    Total Investment Exposure:$139.718M
    Total Common Assets:$139.718M
    Common Shares Outstanding:17,530,463
    Leverage

    As of 2/29/2008

    Preferred Share Assets:
    Total Debt (USD): $2.173M
    Regulatory Leverage (USD):
    Effective Leverage (USD): $2.173M
    Effective Leverage (%): 1.06%
    Annual Expense Ratios

    As of 12/31/2021

      Per Common Share
    Management Fees0.35%
    Other Expenses:1.22%
    Baseline Expense: N/A
    Interest Expense:N/A
    Total: 1.57%
    Fund Management

    Fund Sponsor
    Putnam

    Portfolio Managers
    Anthony J. Daigle, Eric N. Harthun

    Basics
    Category: Fixed Income - Taxable-Convertibles
    Ticker: PCF
    NAV Ticker: XPCFX
    Average Daily Volume (shares): 121,273
    Average Daily Volume (USD): $1.061M
    Inception Date: 7/9/1987
    Inception Share Price: $7.50
    Inception NAV: $10.00
    Tender Offer: No
    Term: No
    Fiscal Year End: December 31
    Third Party Links & Reports

    Distributions

    As of 5/20/2022

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 2/28/2022
    $0.0918
    Annualized Distribution Rate on NAV:
    As of 5/20/2022
    10.99%
    Total Return on NAV (12 months):
    As of 5/20/2022
    -0.48%
    Avg. Portfolio Coupon:
    As of 5/20/2022
    5.77%
    Total % Portfolio Effectively Leveraged:
    As of 5/20/2022
    1.06%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 5/21/2022

    PeriodAvg Discount
    6 Month-4.13%
    1 Year-0.34%
    3 Year-5.60%
    5 Year-5.49%
    Z-Score

    As of 5/20/2022

    PeriodZStat
    3 Month0.97
    6 Month-0.01
    1 Year-0.69
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 4/30/2022
    Category: Morningstar US CEF Convertibles

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD-8.40%-1.82%-18.11%-16.29%
    202111.51%3.70%13.98%5.77%
    20208.33%7.55%25.59%32.33%
    20194.17%7.76%33.46%25.30%
    20185.47%2.52%-10.90%-6.14%
    201714.58%11.20%18.81%12.46%
    201617.82%14.71%17.56%11.29%
    2015-5.46%-6.53%-13.28%-6.40%
    20142.87%4.51%4.99%1.66%
    201310.10%13.58%20.17%19.89%
    201210.37%16.09%13.75%15.53%
    2011-2.27%-3.28%-8.82%-5.62%
    201024.09%18.15%21.58%16.88%
    200957.55%56.37%  
    2008-32.39%-34.94%  
    20070.01%3.09%  
    200621.34%14.37%  
    20051.17%3.24%  
    20049.44%12.26%  
    200332.26%34.19%  
    20020.60%4.26%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 4/30/2022
    Category: Morningstar US CEF Convertibles

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 5/20/2022
    5.77%
    Average Maturity:
    As of 2/28/2022
    6.51 yrs
    Number of Holdings:
    As of 2/28/2022
    170
    Annual Portfolio Turnover:
    As of 12/31/2021
    93.00%
    Asset Allocation

    As of 2/28/2022

    Top Sectors

    As of 2/28/2022

    Sector%Portfolio
    Cyclical (Super Sector)39.12%
    Financial Services38.26%
    Corporate (Super Sector)33.53%
    Preferred Stock21.95%
    Cash Equivalents (Super Sector)11.08%
    Cash Equivalents11.08%
    Bank Loan6.50%
    Sensitive (Super Sector)5.05%
    Corporate Bond4.49%
    Energy3.47%
    State Allocation

    As of 2/28/2022

    State% Portfolio
    California0.83%
    New York0.43%
    Puerto Rico0.12%
    Illinois0.10%
    Texas0.09%
    Pennsylvania0.06%
    Florida0.06%
    New Jersey0.05%
    Ohio0.04%
    Arizona0.03%
    Top Holdings

    As of 2/28/2022

    HoldingValue% Portfolio
    FS KKR Capital Corp$8.12M5.39%
    Asset Offset$6.31M4.19%
    Steel Partners Holdings LP A series$6.09M4.04%
    Highland Income Fund$5.22M3.46%
    Suro Capital Corp$5.08M3.37%
    Portman Ridge Finance Corp$4.20M2.79%
    Crescent Capital BDC Inc Ordinary Shares$3.66M2.43%
    Saba Capital Income & Opportunities Fund$3.48M2.31%
    Nuveen Shrt Duration Cred Opps$3.38M2.24%
    Vertical Capital Income Fund$3.17M2.11%
    Credit Quality

    As of 2/28/2022

    Maturity Breakdown

    As of 2/28/2022

    Country Allocation

    As of 2/28/2022

    Country% Portfolio
    United States - Equity43.33%
    United States - Fixed Income9.73%
    Others - Fixed Income1.77%
    Mexico - Equity0.37%
    Canada - Equity0.34%
    Indonesia - Fixed Income0.23%
    United Kingdom - Equity0.22%
    Brazil - Fixed Income0.21%
    Mexico - Fixed Income0.19%
    India - Fixed Income0.18%
    France - Equity0.17%
    United Kingdom - Fixed Income0.17%
    China - Fixed Income0.16%
    Japan - Equity0.14%
    Switzerland - Equity0.14%
    Germany - Equity0.13%
    France - Fixed Income0.10%
    Colombia - Fixed Income0.10%
    Canada - Fixed Income0.10%
    Sweden - Equity0.10%
    South Korea - Fixed Income0.09%
    Ireland - Fixed Income0.07%
    Turkey - Fixed Income0.06%
    Netherlands - Fixed Income0.06%
    Netherlands - Equity0.06%
    Germany - Fixed Income0.05%
    Peru - Fixed Income0.05%
    Thailand - Fixed Income0.05%
    Spain - Equity0.05%
    Malaysia - Fixed Income0.05%
    South Africa - Fixed Income0.05%
    Australia - Fixed Income0.05%
    Denmark - Equity0.04%
    Chile - Fixed Income0.04%
    Argentina - Fixed Income0.04%
    Norway - Fixed Income0.04%
    Philippines - Fixed Income0.04%
    Russia - Fixed Income0.04%
    Sweden - Fixed Income0.04%
    Hong Kong - Equity0.04%
    Pakistan - Fixed Income0.03%
    India - Equity0.03%
    Singapore - Fixed Income0.02%
    Spain - Fixed Income0.02%
    Singapore - Equity0.02%
    Hungary - Fixed Income0.01%
    China - Equity0.01%
    Hong Kong - Fixed Income0.01%
    Israel - Fixed Income0.01%
    Finland - Fixed Income0.01%
    Others - Equity0.01%
    Finland - Equity0.01%
    Switzerland - Fixed Income0.01%
    Poland - Fixed Income0.01%
    Italy - Fixed Income0.00%
    Japan - Fixed Income0.00%
    Vietnam - Fixed Income0.00%
    Venezuela - Fixed Income0.00%
    Malaysia - Equity0.00%
    Taiwan - Equity0.00%
    Italy - Equity0.00%
    Czech Republic - Fixed Income0.00%
    Denmark - Fixed Income0.00%
    Taiwan - Fixed Income0.00%
    South Africa - Equity0.00%
    Israel - Equity0.00%
    Australia - Equity0.00%
    Belgium - Fixed Income0.00%
    Ireland - Equity0.00%
    Chile - Equity0.00%
    Brazil - Equity0.00%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

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

    The following information applies to closed-end funds 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. Shares of closed-end funds 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 frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    EWB-2036301PR-E0222X