Source Capital, Inc. (NYSE:SOR) Short Interest Update

Source Capital, Inc. (NYSE:SOR) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 977 shares, a drop of 38.0% from the December 15th total of 1,575 shares. Based on an average daily trading volume, of 9,994 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s stock are short sold. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 9,994 shares, the days-to-cover ratio is currently 0.1 days.

Source Capital Stock Performance

NYSE SOR traded down $0.35 on Friday, hitting $47.70. 11,115 shares of the stock were exchanged, compared to its average volume of 11,210. The business’s fifty day moving average is $47.02 and its 200 day moving average is $45.48. Source Capital has a 52 week low of $38.66 and a 52 week high of $50.41.

Source Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a $0.2083 dividend. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date is Friday, February 13th.

Hedge Funds Weigh In On Source Capital

A number of institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC bought a new position in shares of Source Capital during the third quarter worth approximately $60,000. JPMorgan Chase & Co. grew its holdings in Source Capital by 30.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock valued at $78,000 after buying an additional 407 shares in the last quarter. Assetmark Inc. grew its holdings in Source Capital by 258.6% in the 2nd quarter. Assetmark Inc. now owns 1,983 shares of the financial services provider’s stock valued at $86,000 after buying an additional 1,430 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in Source Capital during the 3rd quarter worth $218,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Source Capital during the third quarter worth $221,000. Institutional investors and hedge funds own 13.15% of the company’s stock.

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.