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

Source Capital, Inc. (NYSE:SOR) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 902 shares, an increase of 7,416.7% from the May 14th total of 12 shares. Based on an average trading volume of 12,730 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Institutional Investors Weigh In On Source Capital

Several large 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 4th quarter. DKM Wealth Management Inc. now owns 294,862 shares of the financial services provider’s stock valued at $13,493,000 after buying an additional 9,225 shares during the last quarter. Align Financial LLC acquired a new stake in shares of Source Capital in the 4th quarter valued at approximately $7,006,000. Diversified Management Inc. acquired a new stake in shares of Source Capital in the 4th quarter valued at approximately $5,344,000. First Trust Advisors LP boosted its holdings in shares of Source Capital by 4.4% in the 1st quarter. First Trust Advisors LP now owns 74,530 shares of the financial services provider’s stock valued at $3,452,000 after buying an additional 3,113 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Source Capital by 8.9% in the 4th quarter. Wells Fargo & Company MN now owns 60,823 shares of the financial services provider’s stock valued at $2,783,000 after buying an additional 4,951 shares during the last quarter. Institutional investors and hedge funds own 13.15% of the company’s stock.

Source Capital Stock Up 0.5%

NYSE:SOR opened at $45.42 on Thursday. Source Capital has a twelve month low of $41.98 and a twelve month high of $50.41. The business has a 50 day moving average price of $45.84 and a two-hundred day moving average price of $46.85.

Source Capital Dividend Announcement

The business also recently disclosed 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. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Thursday, August 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.