Source Capital, Inc. (NYSE:SOR) Short Interest Down 38.0% in December

Source Capital, Inc. (NYSE:SOR) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 977 shares, a drop of 38.0% from the December 15th total of 1,575 shares. Based on an average daily trading volume, of 9,994 shares, the short-interest ratio is currently 0.1 days. Approximately 0.1% of the shares of the company are sold short. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 9,994 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Source Capital

Large investors have recently made changes to their positions in the company. DKM Wealth Management Inc. boosted its position in Source Capital by 2.0% during the 2nd quarter. DKM Wealth Management Inc. now owns 281,443 shares of the financial services provider’s stock worth $12,204,000 after acquiring an additional 5,533 shares during the period. D.A. Davidson & CO. raised its stake in shares of Source Capital by 0.6% during the second quarter. D.A. Davidson & CO. now owns 172,148 shares of the financial services provider’s stock valued at $7,465,000 after purchasing an additional 1,042 shares in the last quarter. Assetmark Inc. lifted its holdings in Source Capital by 258.6% in the second quarter. Assetmark Inc. now owns 1,983 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 1,430 shares during the period. Wolverine Asset Management LLC acquired a new stake in Source Capital in the second quarter worth about $576,000. Finally, Shaker Financial Services LLC grew its position in Source Capital by 128.9% in the 2nd quarter. Shaker Financial Services LLC now owns 60,873 shares of the financial services provider’s stock valued at $2,640,000 after buying an additional 34,282 shares in the last quarter. Institutional investors and hedge funds own 13.15% of the company’s stock.

Source Capital Stock Performance

SOR stock traded down $0.35 during mid-day trading on Friday, reaching $47.70. The company had a trading volume of 11,115 shares, compared to its average volume of 11,210. Source Capital has a one year low of $38.66 and a one year high of $50.41. The stock’s 50-day simple moving average is $47.02 and its two-hundred day simple moving average is $45.48.

Source Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.2083 per share. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Friday, February 13th.

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.