Source Capital, Inc. (NYSE:SOR) Sees Significant Decrease in Short Interest

Source Capital, Inc. (NYSE:SOR) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 4,036 shares, a decrease of 40.1% from the January 15th total of 6,737 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 12,888 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 12,888 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the shares of the company are sold short.

Institutional Trading of Source Capital

Large investors have recently added to or reduced their stakes in the business. Diversified Management Inc. acquired a new position in shares of Source Capital during the fourth quarter valued at $5,344,000. Hara Capital LLC grew its position in Source Capital by 50.3% in the 2nd quarter. Hara Capital LLC now owns 107,537 shares of the financial services provider’s stock valued at $4,663,000 after buying an additional 35,995 shares in the last quarter. Shaker Financial Services LLC increased its stake 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 during the period. Cornerstone Advisors LLC increased its stake in Source Capital by 487.9% during the 2nd quarter. Cornerstone Advisors LLC now owns 16,942 shares of the financial services provider’s stock valued at $735,000 after buying an additional 14,060 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in shares of Source Capital during the 2nd quarter worth about $576,000. 13.15% of the stock is currently owned by institutional investors and hedge funds.

Source Capital Price Performance

NYSE:SOR remained flat at $48.69 during mid-day trading on Friday. 9,440 shares of the company traded hands, compared to its average volume of 12,394. The stock’s 50 day moving average is $47.58 and its 200 day moving average is $46.07. Source Capital has a 12-month low of $38.66 and a 12-month high of $50.41.

Source Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 14th will be issued a dividend of $0.2083 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Thursday, May 14th.

Source Capital Company Profile

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.