Source Capital, Inc. (NYSE:SOR) Short Interest Up 589.6% in January

Source Capital, Inc. (NYSE:SOR) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 6,737 shares, a growth of 589.6% from the December 31st total of 977 shares. Based on an average trading volume of 14,361 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.4% of the company’s shares are short sold. Approximately 0.4% of the company’s shares are short sold. Based on an average trading volume of 14,361 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Source Capital

A number of institutional investors and hedge funds have recently modified their holdings of SOR. Shaker Financial Services LLC lifted its position in Source Capital by 108.9% during the 4th quarter. Shaker Financial Services LLC now owns 19,324 shares of the financial services provider’s stock worth $884,000 after acquiring an additional 10,073 shares in the last quarter. Diversified Management Inc. acquired a new position in Source Capital in the fourth quarter worth about $5,344,000. Uptown Financial Advisors LLC acquired a new stake in shares of Source Capital during the 4th quarter valued at approximately $276,000. DKM Wealth Management Inc. lifted its position 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 worth $13,493,000 after buying an additional 9,225 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Source Capital by 30.9% in the third quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 407 shares during the period. Institutional investors and hedge funds own 13.15% of the company’s stock.

Source Capital Stock Up 0.2%

Shares of Source Capital stock traded up $0.11 during trading hours on Wednesday, reaching $48.35. 2,937 shares of the company were exchanged, compared to its average volume of 13,028. The stock’s fifty day moving average is $47.36 and its 200 day moving average is $45.69. Source Capital has a 1 year low of $38.66 and a 1 year high of $50.41.

Source Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.2083 per share. The ex-dividend date is Thursday, May 14th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%.

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.