Source Capital, Inc. (NYSE:SOR) Short Interest Up 167.8% in February

Source Capital, Inc. (NYSE:SOR) saw a significant increase in short interest in February. As of February 27th, there was short interest totaling 3,492 shares, an increase of 167.8% from the February 12th total of 1,304 shares. Based on an average daily volume of 13,116 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the company’s shares are short sold. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 13,116 shares, the days-to-cover ratio is presently 0.3 days.

Source Capital Trading Down 0.7%

SOR traded down $0.34 during trading on Wednesday, hitting $46.74. 10,319 shares of the stock were exchanged, compared to its average volume of 13,411. The firm has a 50 day simple moving average of $47.89 and a 200 day simple moving average of $46.59. Source Capital has a 1 year low of $38.66 and a 1 year high of $50.41.

Source Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 14th will be issued a $0.2083 dividend. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Thursday, May 14th.

Institutional Trading of Source Capital

A number of hedge funds have recently added to or reduced their stakes in SOR. WHI TRUST Co LLC bought a new position in Source Capital during the 4th quarter worth about $42,000. Sound Income Strategies LLC bought a new stake in shares of Source Capital in the 3rd quarter valued at about $60,000. Manchester Capital Management LLC purchased a new stake in shares of Source Capital in the 4th quarter worth approximately $68,000. JPMorgan Chase & Co. lifted its position in shares of Source Capital by 30.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 407 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of Source Capital during the fourth quarter valued at approximately $85,000. 13.15% of the stock is owned by hedge funds and other institutional investors.

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.