Source Capital, Inc. (NYSE:SOR) Short Interest Down 16.2% in March

Source Capital, Inc. (NYSE:SOR) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 2,928 shares, a drop of 16.2% from the February 26th total of 3,492 shares. Based on an average trading volume of 13,249 shares, the short-interest ratio is currently 0.2 days. Approximately 0.2% of the company’s stock are sold short.

Institutional Trading of Source Capital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WHI TRUST Co LLC purchased a new position in Source Capital during the fourth quarter valued at $42,000. Sound Income Strategies LLC purchased a new stake in shares of Source Capital in the third quarter worth $60,000. Manchester Capital Management LLC purchased a new stake in shares of Source Capital in the fourth quarter worth $68,000. JPMorgan Chase & Co. increased its holdings in shares of Source Capital by 30.9% during the third quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 407 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Source Capital in the 4th quarter worth about $85,000. Hedge funds and other institutional investors own 13.15% of the company’s stock.

Source Capital Trading Down 0.7%

NYSE:SOR traded down $0.33 during mid-day trading on Wednesday, hitting $45.99. 5,372 shares of the company’s stock were exchanged, compared to its average volume of 12,458. Source Capital has a one year low of $38.66 and a one year high of $50.41. The business has a fifty day moving average price of $47.44 and a 200 day moving average price of $46.70.

Source Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 14th will be given a $0.2083 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, May 14th.

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.