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

Source Capital, Inc. (NYSE:SOR) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 4,119 shares, a decline of 44.7% from the June 30th total of 7,442 shares. Based on an average trading volume of 10,408 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Trading of Source Capital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WHI TRUST Co LLC bought a new stake in shares of Source Capital during the 4th quarter worth about $42,000. PNC Financial Services Group Inc. boosted its holdings in shares of 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 valued at $46,000 after acquiring an additional 950 shares in the last quarter. Manchester Capital Management LLC acquired a new position in shares of Source Capital during the fourth quarter valued at approximately $68,000. JPMorgan Chase & Co. increased its stake in shares of Source Capital by 30.9% during the third 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 period. Finally, Kestra Advisory Services LLC bought a new stake in Source Capital during the fourth quarter worth approximately $85,000. 13.15% of the stock is currently owned by institutional investors.

Source Capital Trading Up 0.8%

Shares of NYSE:SOR traded up $0.37 on Wednesday, hitting $45.61. The company’s stock had a trading volume of 8,079 shares, compared to its average volume of 12,743. Source Capital has a 12 month low of $43.16 and a 12 month high of $50.41. The stock’s 50-day moving average is $45.55 and its two-hundred day moving average is $46.47.

Source Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 13th will be given a $0.2083 dividend. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Friday, November 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.