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

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

Source Capital Price Performance

Source Capital stock traded down $0.10 during midday trading on Friday, hitting $44.91. The company’s stock had a trading volume of 4,574 shares, compared to its average volume of 10,812. The stock’s 50-day moving average price is $45.71 and its 200-day moving average price is $46.65. Source Capital has a 12 month low of $41.98 and a 12 month high of $50.41.

Source Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors 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 5.6%. The ex-dividend date is Thursday, August 13th.

Institutional Trading of Source Capital

A number of large investors have recently added to or reduced their stakes in the business. WHI TRUST Co LLC acquired a new position in Source Capital in the fourth quarter worth approximately $42,000. PNC Financial Services Group Inc. lifted its position in shares of 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 during the last quarter. Manchester Capital Management LLC acquired a new stake in shares of Source Capital during the 4th quarter valued at $68,000. JPMorgan Chase & Co. boosted its stake in shares of 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 in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Source Capital during the 4th quarter worth $85,000. 13.15% of the stock is currently owned by institutional investors.

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.