Source Capital, Inc. (NYSE:SOR) Stock Short Interest Rises 72.1%

Source Capital, Inc. (NYSE:SOR) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 4,408 shares, an increase of 72.1% from the September 30th total of 2,562 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 8,400 shares, the short-interest ratio is currently 0.5 days.

Source Capital Stock Performance

SOR stock opened at $46.81 on Tuesday. The firm’s 50-day moving average price is $45.78 and its two-hundred day moving average price is $46.28. Source Capital has a 12-month low of $44.20 and a 12-month high of $50.41.

Source Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 26th. Stockholders of record on Friday, February 12th will be issued a dividend of $0.23 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, February 12th.

Institutional Trading of Source Capital

Several large investors have recently modified their holdings of SOR. Readystate Asset Management LP bought a new stake in Source Capital in the second quarter worth $565,000. D.A. Davidson & CO. raised its holdings in Source Capital by 1.3% in the third quarter. D.A. Davidson & CO. now owns 169,153 shares of the financial services provider’s stock worth $7,685,000 after buying an additional 2,233 shares during the last quarter. DKM Wealth Management Inc. lifted its stake in shares of Source Capital by 1.8% in the third quarter. DKM Wealth Management Inc. now owns 318,676 shares of the financial services provider’s stock worth $14,477,000 after buying an additional 5,580 shares in the last quarter. Diversified Management Inc. lifted its stake in shares of Source Capital by 0.7% in the third quarter. Diversified Management Inc. now owns 122,077 shares of the financial services provider’s stock worth $5,546,000 after buying an additional 792 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Source Capital by 4.5% during the first quarter. Cetera Investment Advisers now owns 5,478 shares of the financial services provider’s stock valued at $254,000 after buying an additional 235 shares during the last quarter. 13.15% of the stock is owned by institutional investors.

Source Capital Company Profile

Source Capital, Inc (NYSE: SOR) is a publicly traded closed-end investment company. The fund’s primary objective is to provide long-term growth of capital and income by investing in a portfolio of securities selected by its investment adviser.

Source Capital invests principally in publicly traded common stocks and other equity securities, with a value-oriented approach that emphasizes companies the adviser believes are attractively priced relative to their underlying business prospects.