Source Capital, Inc. (NYSE:SOR) Stock Short Interest Report for September

Source Capital, Inc. (NYSE:SOR) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 2,562 shares, a growth of 58.7% from the September 15th total of 1,614 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 7,087 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On Source Capital

Several large investors have recently made changes to their positions in the business. Readystate Asset Management LP purchased a new position in shares of Source Capital in the 2nd quarter worth about $565,000. DKM Wealth Management Inc. raised its holdings in Source Capital by 1.8% in the 3rd quarter. DKM Wealth Management Inc. now owns 318,676 shares of the financial services provider’s stock worth $14,477,000 after acquiring an additional 5,580 shares during the last quarter. Diversified Management Inc. raised its holdings in Source Capital by 2.8% in the 2nd quarter. Diversified Management Inc. now owns 121,285 shares of the financial services provider’s stock worth $5,575,000 after acquiring an additional 3,316 shares during the last quarter. First Trust Advisors LP lifted its position in 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 acquiring an additional 3,113 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in 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 in the last quarter. 13.15% of the stock is currently owned by hedge funds and other institutional investors.

Source Capital Stock Up 0.4%

Shares of Source Capital stock traded up $0.16 during trading on Friday, hitting $45.37. The company’s stock had a trading volume of 529 shares, compared to its average volume of 11,839. Source Capital has a 52 week low of $44.20 and a 52 week high of $50.41. The company has a fifty day simple moving average of $46.03 and a two-hundred day simple moving average of $45.87.

Source Capital Announces Dividend

The firm 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 $0.2083 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Friday, November 13th.

Source Capital Company Profile

Source Capital, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol SOR. The company seeks long-term growth of capital and current income by investing in a diversified portfolio of securities.

Its portfolio may include common and preferred stocks, convertible securities, and other investments in public and private companies. Source Capital has historically focused on identifying businesses with potential for capital appreciation while also pursuing income through dividends and interest.

The fund is managed as an investment portfolio rather than operating a conventional commercial business, and its investment exposure can span companies and industries in the United States and other markets.