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

Source Capital, Inc. (NYSE:SOR) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 7,442 shares, a growth of 82.2% from the June 15th total of 4,085 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 14,494 shares, the days-to-cover ratio is presently 0.5 days.

Source Capital Price Performance

Shares of Source Capital stock traded down $0.75 during trading on Friday, reaching $45.53. The company’s stock had a trading volume of 18,463 shares, compared to its average volume of 10,907. Source Capital has a 52-week low of $41.98 and a 52-week high of $50.41. The firm’s 50-day moving average is $45.62 and its two-hundred day moving average is $46.54.

Source Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be given a $0.2083 dividend. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Thursday, August 13th.

Institutional Trading of Source Capital

Several institutional investors have recently added to or reduced their stakes in the business. WHI TRUST Co LLC bought a new position in shares of Source Capital during the fourth quarter valued at about $42,000. PNC Financial Services Group Inc. lifted its stake in shares of Source Capital by 1,900.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 950 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in Source Capital during the 4th quarter valued at about $68,000. JPMorgan Chase & Co. boosted its holdings in Source Capital by 30.9% during the 3rd 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. Finally, Kestra Advisory Services LLC bought a new position in Source Capital during the 4th quarter worth approximately $85,000. 13.15% of the stock is currently 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.