Source Capital, Inc. (NYSE:SOR) Short Interest Up 24.2% in August

Source Capital, Inc. (NYSE:SOR) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 8,200 shares, a growth of 24.2% from the July 31st total of 6,600 shares. Based on an average daily volume of 10,800 shares, the days-to-cover ratio is currently 0.8 days.

Source Capital Trading Up 0.0 %

SOR stock opened at $44.81 on Friday. The business’s fifty day moving average price is $43.73 and its two-hundred day moving average price is $42.68. Source Capital has a fifty-two week low of $37.26 and a fifty-two week high of $47.91.

Source Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.2083 per share. The ex-dividend date is Tuesday, September 17th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.58%.

Institutional Investors Weigh In On Source Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cullen Frost Bankers Inc. acquired a new stake in Source Capital during the fourth quarter worth approximately $36,000. Leo Wealth LLC acquired a new position in Source Capital in the fourth quarter valued at about $206,000. Belpointe Asset Management LLC acquired a new stake in Source Capital during the fourth quarter worth about $214,000. Cary Street Partners Investment Advisory LLC increased its holdings in Source Capital by 45.3% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 5,450 shares of the financial services provider’s stock valued at $235,000 after buying an additional 1,700 shares during the period. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Source Capital in the 2nd quarter valued at approximately $417,000. 13.15% of the stock is currently owned by institutional investors and hedge funds.

Source Capital Company Profile

Source Capital, Inc is a close-ended balanced fund launched and managed by First Pacific Advisors, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating across diversified sectors. The fund primarily invests in value stocks of small to mid cap companies.