Short Interest in Source Capital, Inc. (NYSE:SOR) Declines By 79.1%

Source Capital, Inc. (NYSE:SOR) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 861 shares, a drop of 79.1% from the July 15th total of 4,119 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 9,459 shares, the short-interest ratio is currently 0.1 days.

Source Capital Stock Performance

SOR traded down $0.18 on Friday, reaching $46.42. 4,741 shares of the stock were exchanged, compared to its average volume of 9,946. The company’s 50-day moving average price is $45.83 and its 200 day moving average price is $46.36. Source Capital has a fifty-two week low of $43.65 and a fifty-two week high of $50.41.

Source Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be paid a $0.2083 dividend. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, November 13th.

Institutional Investors Weigh In On Source Capital

A number of large investors have recently bought and sold shares of the company. Align Financial LLC acquired a new position in Source Capital in the 4th quarter worth approximately $7,006,000. Diversified Management Inc. purchased a new stake in shares of Source Capital in the 4th quarter valued at $5,344,000. Evolve Private Wealth LLC purchased a new stake in shares of Source Capital in the 4th quarter valued at $522,000. Shaker Financial Services LLC boosted its holdings in shares of Source Capital by 108.9% in the 4th quarter. Shaker Financial Services LLC now owns 19,324 shares of the financial services provider’s stock valued at $884,000 after acquiring an additional 10,073 shares during the last quarter. Finally, Osaic Holdings Inc. increased its stake in shares of Source Capital by 120.1% in the second quarter. Osaic Holdings Inc. now owns 11,811 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 6,445 shares during the period. Hedge funds and other institutional investors 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.