Source Capital, Inc. (NYSE:SOR) Short Interest Update

Source Capital, Inc. (NYSE:SOR) was the recipient of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 706 shares, a decrease of 41.7% from the April 15th total of 1,210 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 13,589 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. DKM Wealth Management Inc. lifted 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 last quarter. Align Financial LLC bought a new position in shares of Source Capital in the fourth quarter worth about $7,006,000. Diversified Management Inc. bought a new position in shares of Source Capital in the fourth quarter worth about $5,344,000. Hara Capital LLC lifted its holdings in shares of Source Capital by 1.7% in the third quarter. Hara Capital LLC now owns 109,344 shares of the financial services provider’s stock worth $4,923,000 after acquiring an additional 1,807 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Source Capital by 4.4% in the first quarter. First Trust Advisors LP now owns 74,530 shares of the financial services provider’s stock worth $3,452,000 after acquiring an additional 3,113 shares during the last quarter. Institutional investors own 13.15% of the company’s stock.

Source Capital Price Performance

SOR stock opened at $45.31 on Tuesday. Source Capital has a 12 month low of $41.50 and a 12 month high of $50.41. The firm has a 50-day moving average price of $46.04 and a 200-day moving average price of $46.88.

Source Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, August 13th will be issued a $0.2083 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%.

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.