Short Interest in Source Capital, Inc. (NYSE:SOR) Rises By 352.9%

Source Capital, Inc. (NYSE:SOR) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 4,085 shares, an increase of 352.9% from the May 31st total of 902 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 9,452 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On Source Capital

Institutional investors have recently bought and sold shares of the stock. WHI TRUST Co LLC bought a new position in shares of Source Capital in the fourth quarter valued at approximately $42,000. PNC Financial Services Group Inc. lifted its position in Source Capital by 1,900.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 950 shares during the period. Manchester Capital Management LLC acquired a new stake in Source Capital in the fourth quarter worth approximately $68,000. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 407 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Source Capital during the 4th quarter valued at $85,000. Institutional investors and hedge funds own 13.15% of the company’s stock.

Source Capital Stock Performance

Shares of NYSE SOR traded down $0.10 during midday trading on Friday, hitting $44.91. 4,574 shares of the company’s stock were exchanged, compared to its average volume of 10,812. Source Capital has a twelve month low of $41.98 and a twelve month high of $50.41. The stock’s 50 day moving average price is $45.71 and its 200-day moving average price is $46.65.

Source Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, August 13th will be paid a $0.2083 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 5.6%.

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.