Source Capital, Inc. (NYSE:SOR) Sees Significant Decrease in Short Interest

Source Capital, Inc. (NYSE:SOR) saw a large decrease in short interest in April. As of April 30th, there was short interest totaling 706 shares, a decrease of 41.7% from the April 15th total of 1,210 shares. Based on an average trading volume of 13,589 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Institutional Trading of Source Capital

Several hedge funds have recently modified their holdings of SOR. First Trust Advisors LP boosted its holdings in shares of 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 buying an additional 1,353 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of 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 valued at $1,995,000 after buying an additional 2,165 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Source Capital by 120.1% in the 2nd quarter. Osaic Holdings Inc. now owns 11,811 shares of the financial services provider’s stock valued at $512,000 after buying an additional 6,445 shares in the last quarter. Hara Capital LLC boosted its holdings in shares of Source Capital by 1.7% in the 3rd quarter. Hara Capital LLC now owns 109,344 shares of the financial services provider’s stock valued at $4,923,000 after buying an additional 1,807 shares in the last quarter. Finally, Capital Investment Counsel Inc bought a new stake in shares of Source Capital in the 3rd quarter valued at about $451,000. 13.15% of the stock is owned by hedge funds and other institutional investors.

Source Capital Stock Down 0.1%

Source Capital stock traded down $0.07 during midday trading on Monday, hitting $45.31. 21,965 shares of the company’s stock were exchanged, compared to its average volume of 14,165. Source Capital has a 12 month low of $41.50 and a 12 month high of $50.41. The firm has a 50-day moving average of $46.04 and a two-hundred day moving average of $46.88.

Source Capital Announces Dividend

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

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.