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

Source Capital, Inc. (NYSE:SOR) was the recipient of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 902 shares, a growth of 7,416.7% from the May 14th total of 12 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 12,730 shares, the days-to-cover ratio is presently 0.1 days.

Source Capital Stock Up 0.2%

SOR traded up $0.11 during midday trading on Tuesday, hitting $45.19. 6,049 shares of the company were exchanged, compared to its average volume of 13,225. Source Capital has a 1-year low of $41.98 and a 1-year high of $50.41. The firm’s 50 day moving average price is $45.81 and its 200-day moving average price is $46.85.

Source Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, August 13th will be paid a $0.2083 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SOR. Align Financial LLC acquired a new position in Source Capital during the 4th quarter worth approximately $7,006,000. Diversified Management Inc. bought a new stake in Source Capital during the 4th quarter worth approximately $5,344,000. Evolve Private Wealth LLC bought a new stake in Source Capital during the 4th quarter worth approximately $522,000. Shaker Financial Services LLC increased its holdings in Source Capital by 108.9% during the 4th quarter. Shaker Financial Services LLC now owns 19,324 shares of the financial services provider’s stock worth $884,000 after purchasing an additional 10,073 shares in the last quarter. Finally, DKM Wealth Management Inc. increased its holdings in 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 worth $13,493,000 after purchasing an additional 9,225 shares in the last quarter. 13.15% of the stock is owned by institutional investors and hedge funds.

Source Capital Company Profile

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.