Source Capital, Inc. (NYSE:SOR) Short Interest Update

Source Capital, Inc. (NYSE:SOR) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 9,400 shares, a growth of 104.3% from the January 31st total of 4,600 shares. Based on an average daily volume of 13,500 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of Source Capital

Several institutional investors and hedge funds have recently made changes to their positions in SOR. Cary Street Partners Financial LLC bought a new position in Source Capital during the 4th quarter worth about $242,000. Raymond James Financial Inc. purchased a new stake in shares of Source Capital in the 4th quarter worth approximately $2,231,000. Invesco Ltd. boosted its stake in shares of Source Capital by 40.6% during the fourth quarter. Invesco Ltd. now owns 24,944 shares of the financial services provider’s stock valued at $1,085,000 after purchasing an additional 7,198 shares in the last quarter. DKM Wealth Management Inc. purchased a new position in Source Capital during the fourth quarter valued at approximately $11,931,000. Finally, Congress Wealth Management LLC DE purchased a new position in Source Capital during the fourth quarter valued at approximately $357,000. 13.15% of the stock is currently owned by institutional investors.

Source Capital Trading Up 0.3 %

SOR traded up $0.13 during trading on Friday, hitting $42.51. 10,372 shares of the stock were exchanged, compared to its average volume of 15,227. The firm has a 50 day simple moving average of $42.88 and a 200 day simple moving average of $43.84. Source Capital has a 1 year low of $40.83 and a 1 year high of $47.91.

Source Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.2083 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.50 annualized dividend and a dividend yield of 5.88%.

Source Capital Company Profile

Source Capital, Inc is a close-ended balanced fund launched and managed by First Pacific Advisors, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating across diversified sectors. The fund primarily invests in value stocks of small to mid cap companies.