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

Source Capital, Inc. (NYSE:SOR) was the recipient of a large increase in short interest during the month of 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 currently 0.3 days. Approximately 0.2% of the shares of the company are sold short. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 13,116 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SOR. Cornerstone Advisors LLC increased its position in Source Capital by 487.9% during the second quarter. Cornerstone Advisors LLC now owns 16,942 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 14,060 shares during the period. First Trust Advisors LP boosted its holdings in Source Capital by 2.0% in the 2nd quarter. First Trust Advisors LP now owns 69,152 shares of the financial services provider’s stock valued at $2,999,000 after purchasing an additional 1,353 shares during the period. Raymond James Financial Inc. grew its position in Source Capital by 4.9% in the 2nd quarter. Raymond James Financial Inc. now owns 46,000 shares of the financial services provider’s stock worth $1,995,000 after purchasing an additional 2,165 shares during the last quarter. Hara Capital LLC increased its holdings in shares of Source Capital by 50.3% during the 2nd quarter. Hara Capital LLC now owns 107,537 shares of the financial services provider’s stock worth $4,663,000 after purchasing an additional 35,995 shares during the period. Finally, Anchor Investment Management LLC increased its holdings in shares of Source Capital by 6.4% during the 2nd quarter. Anchor Investment Management LLC now owns 32,285 shares of the financial services provider’s stock worth $1,400,000 after purchasing an additional 1,933 shares during the period. Institutional investors own 13.15% of the company’s stock.

Source Capital Stock Down 0.6%

Source Capital stock traded down $0.30 during trading hours on Friday, reaching $46.30. 5,840 shares of the company were exchanged, compared to its average volume of 12,707. Source Capital has a 12 month low of $38.66 and a 12 month high of $50.41. The stock has a 50-day moving average of $47.92 and a 200 day moving average of $46.60.

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 dividend of $0.2083 per share. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, May 14th.

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.