Short Interest in Source Capital, Inc. (NYSE:SOR) Decreases By 41.7%

Source Capital, Inc. (NYSE:SOR) was the target of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 706 shares, a decline of 41.7% from the April 15th total of 1,210 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 13,589 shares, the short-interest ratio is presently 0.1 days.

Source Capital Trading Down 0.1%

Shares of SOR stock traded down $0.07 during trading on Monday, hitting $45.31. The company had a trading volume of 21,965 shares, compared to its average volume of 14,165. The stock’s 50-day moving average price is $46.04 and its 200 day moving average price is $46.88. Source Capital has a one year low of $41.50 and a one year high of $50.41.

Source Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.2083 per share. The ex-dividend date is Thursday, August 13th. This represents a c) annualized dividend and a yield of 5.5%.

Institutional Investors Weigh In On Source Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WHI TRUST Co LLC bought a new stake in Source Capital during the fourth quarter worth $42,000. PNC Financial Services Group Inc. lifted its stake in Source Capital by 1,900.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 950 shares during the last quarter. Manchester Capital Management LLC bought a new stake in Source Capital during the fourth quarter worth $68,000. JPMorgan Chase & Co. lifted its stake in Source Capital by 30.9% during the third quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 407 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Source Capital during the fourth 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.