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

Source Capital, Inc. (NYSE:SOR) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totaling 977 shares, a decrease of 38.0% from the December 15th total of 1,575 shares. Based on an average trading volume of 9,994 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company’s stock are short sold. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 9,994 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Source Capital

Hedge funds have recently added to or reduced their stakes in the stock. DKM Wealth Management Inc. grew its position in shares of Source Capital by 3.2% during the 4th quarter. DKM Wealth Management Inc. now owns 294,862 shares of the financial services provider’s stock valued at $13,493,000 after acquiring an additional 9,225 shares during the period. JPMorgan Chase & Co. lifted its stake in Source Capital by 30.9% in the third quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 407 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Source Capital by 4.3% during the third quarter. NewEdge Advisors LLC now owns 7,334 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 300 shares during the period. Baltimore Washington Financial Advisors Inc. increased its position in Source Capital by 20.1% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 17,955 shares of the financial services provider’s stock worth $808,000 after buying an additional 3,000 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Source Capital by 5.4% in the third quarter. First Trust Advisors LP now owns 72,869 shares of the financial services provider’s stock worth $3,281,000 after buying an additional 3,717 shares during the last quarter. Institutional investors own 13.15% of the company’s stock.

Source Capital Trading Down 0.7%

SOR stock traded down $0.35 during trading on Friday, reaching $47.70. The stock 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 company’s 50 day moving average is $47.02 and its two-hundred day moving average is $45.48.

Source Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued 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 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.