Short Interest in Source Capital, Inc. (NYSE:SOR) Decreases By 98.3%

Source Capital, Inc. (NYSE:SOR) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totaling 12 shares, a decrease of 98.3% from the April 30th total of 706 shares. Based on an average trading volume of 13,362 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. WHI TRUST Co LLC purchased a new stake in Source Capital in the 4th quarter valued at $42,000. PNC Financial Services Group Inc. lifted its stake in Source Capital by 1,900.0% during 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. Manchester Capital Management LLC purchased a new position in Source Capital during the 4th quarter worth $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 worth $78,000 after acquiring an additional 407 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Source Capital in the 4th quarter worth $85,000. Hedge funds and other institutional investors own 13.15% of the company’s stock.

Source Capital Price Performance

NYSE SOR traded up $0.05 during trading hours on Wednesday, hitting $45.20. The company’s stock had a trading volume of 6,791 shares, compared to its average volume of 14,014. Source Capital has a 52 week low of $41.93 and a 52 week high of $50.41. The company’s 50-day simple moving average is $45.81 and its two-hundred day simple moving average is $46.86.

Source Capital Dividend Announcement

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

Source Capital Company Profile

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.