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

Source Capital, Inc. (NYSE:SOR) was the target of a large increase in short interest in 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 short-interest ratio is currently 0.4 days. Approximately 0.2% of the shares of the stock are short sold.

Source Capital Stock Performance

NYSE SOR traded down $0.05 on Thursday, reaching $46.55. The company’s stock had a trading volume of 11,297 shares, compared to its average volume of 12,328. Source Capital has a 52 week low of $44.11 and a 52 week high of $50.41. The business has a 50-day moving average price of $46.02 and a 200 day moving average price of $46.25.

Source Capital Dividend Announcement

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) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Friday, November 13th.

Hedge Funds Weigh In On Source Capital

A number of hedge funds have recently modified their holdings of the stock. Smith Asset Management Co. LLC lifted its holdings in Source Capital by 0.8% during the 4th quarter. Smith Asset Management Co. LLC now owns 28,345 shares of the financial services provider’s stock worth $1,297,000 after buying an additional 233 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Source Capital by 4.5% in the 1st quarter. Cetera Investment Advisers now owns 5,478 shares of the financial services provider’s stock valued at $254,000 after buying an additional 235 shares during the period. NewEdge Advisors LLC increased its stake in shares of Source Capital by 4.3% in the 3rd quarter. NewEdge Advisors LLC now owns 7,334 shares of the financial services provider’s stock valued at $330,000 after buying an additional 300 shares during the period. JPMorgan Chase & Co. raised its position in shares of Source Capital by 30.9% during the third quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 407 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Source Capital by 15.9% during the first quarter. Assetmark Inc. now owns 3,586 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 493 shares during the last quarter. 13.15% of the stock is owned by institutional investors and hedge funds.

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.