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

Source Capital, Inc. (NYSE:SOR) was the target of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 3,650 shares, an increase of 323.9% from the July 30th total of 861 shares. Based on an average trading volume of 9,457 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Investors Weigh In On Source Capital

A number of institutional investors have recently modified their holdings of the stock. Diversified Management Inc. raised its stake in Source Capital by 2.8% during the second quarter. Diversified Management Inc. now owns 121,285 shares of the financial services provider’s stock valued at $5,575,000 after buying an additional 3,316 shares in the last quarter. Cetera Investment Advisers raised its stake in Source Capital by 4.5% during the first quarter. Cetera Investment Advisers now owns 5,478 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 235 shares during the period. First Trust Advisors LP lifted its holdings in 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. PNC Financial Services Group Inc. lifted its holdings in Source Capital by 1,900.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 950 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in Source Capital by 15.9% in the first quarter. Assetmark Inc. now owns 3,586 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 493 shares during the period. Institutional investors and hedge funds own 13.15% of the company’s stock.

Source Capital Price Performance

NYSE SOR traded down $0.05 during mid-day trading on Wednesday, reaching $46.72. 5,565 shares of the company’s stock traded hands, compared to its average volume of 12,317. Source Capital has a 1-year low of $44.11 and a 1-year high of $50.41. The company has a fifty day simple moving average of $45.99 and a 200-day simple moving average of $46.25.

Source Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.2083 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, November 13th.

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.