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

Source Capital, Inc. (NYSE:SOR) was the recipient of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 4,036 shares, a drop of 40.1% from the January 15th total of 6,737 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 12,888 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 12,888 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the company’s shares are sold short.

Source Capital Price Performance

Source Capital stock remained flat at $48.69 during mid-day trading on Friday. The company had a trading volume of 9,440 shares, compared to its average volume of 13,321. The firm’s 50 day moving average is $47.54 and its 200-day moving average is $46.02. Source Capital has a fifty-two week low of $38.66 and a fifty-two week high of $50.41.

Source Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 14th will be paid a dividend of $0.2083 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Thursday, May 14th.

Institutional Trading of Source Capital

Institutional investors have recently bought and sold shares of the business. WHI TRUST Co LLC acquired a new position in shares of Source Capital in the 4th quarter valued at $42,000. Sound Income Strategies LLC acquired a new position in Source Capital in the third quarter valued at about $60,000. Manchester Capital Management LLC bought a new position in Source Capital during the fourth quarter worth about $68,000. JPMorgan Chase & Co. increased its stake in shares of 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 acquiring an additional 407 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Source Capital by 258.6% during the second quarter. Assetmark Inc. now owns 1,983 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 1,430 shares during the period. Institutional investors and hedge funds own 13.15% of the company’s stock.

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.