Short Interest in Source Capital, Inc. (NYSE:SOR) Decreases By 38.0%

Source Capital, Inc. (NYSE:SOR) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 977 shares, a drop of 38.0% from the December 15th total of 1,575 shares. Based on an average trading volume of 9,994 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the company are short sold. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 9,994 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Source Capital

Institutional investors have recently made changes to their positions in the stock. DKM Wealth Management Inc. boosted its holdings in shares of Source Capital by 3.2% in the fourth quarter. DKM Wealth Management Inc. now owns 294,862 shares of the financial services provider’s stock worth $13,493,000 after acquiring an additional 9,225 shares during the period. D.A. Davidson & CO. lifted its holdings in Source Capital by 0.6% during the 2nd quarter. D.A. Davidson & CO. now owns 172,148 shares of the financial services provider’s stock worth $7,465,000 after purchasing an additional 1,042 shares in the last quarter. Hara Capital LLC boosted its stake in Source Capital by 1.7% in the 3rd quarter. Hara Capital LLC now owns 109,344 shares of the financial services provider’s stock worth $4,923,000 after purchasing an additional 1,807 shares during the period. First Trust Advisors LP boosted its stake in Source Capital by 5.4% in the 3rd quarter. First Trust Advisors LP now owns 72,869 shares of the financial services provider’s stock worth $3,281,000 after purchasing an additional 3,717 shares during the period. Finally, Shaker Financial Services LLC grew its holdings in Source Capital by 128.9% during the 2nd quarter. Shaker Financial Services LLC now owns 60,873 shares of the financial services provider’s stock valued at $2,640,000 after buying an additional 34,282 shares in the last quarter. Hedge funds and other institutional investors own 13.15% of the company’s stock.

Source Capital Price Performance

NYSE SOR traded down $0.35 during trading on Friday, hitting $47.70. 11,115 shares of the company’s stock traded hands, compared to its average volume of 11,210. Source Capital has a 12-month low of $38.66 and a 12-month high of $50.41. The business has a 50 day moving average of $47.02 and a 200-day moving average of $45.48.

Source Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a $0.2083 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a c) annualized dividend and a yield of 5.2%.

About Source Capital

Source Capital Inc is an externally managed specialty finance company that provides flexible financing solutions to U.S. middle-market companies. Structured as a closed-end investment company, it focuses on investing in both debt and equity securities of businesses seeking growth capital, refinancing, acquisitions, recapitalizations and other strategic initiatives.

The company’s investment strategy encompasses senior secured loans, unitranche facilities, second-lien financings, mezzanine debt and equity co-investments.