Source Capital, Inc. (NYSE:SOR) Short Interest Up 352.9% in June

Source Capital, Inc. (NYSE:SOR) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 4,085 shares, an increase of 352.9% from the May 31st total of 902 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 9,452 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers boosted its stake in shares of Source Capital by 4.5% in the 1st quarter. Cetera Investment Advisers now owns 5,478 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 235 shares during the last quarter. First Trust Advisors LP grew its position in shares of Source Capital by 4.4% during the 1st quarter. First Trust Advisors LP now owns 74,530 shares of the financial services provider’s stock worth $3,452,000 after buying an additional 3,113 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Source Capital by 1,900.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the financial services provider’s stock valued at $46,000 after buying an additional 950 shares during the period. Assetmark Inc. lifted its holdings in Source Capital by 15.9% in the first quarter. Assetmark Inc. now owns 3,586 shares of the financial services provider’s stock valued at $166,000 after buying an additional 493 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Source Capital by 8.9% in the first quarter. Janney Montgomery Scott LLC now owns 7,338 shares of the financial services provider’s stock valued at $340,000 after buying an additional 600 shares during the period. 13.15% of the stock is currently owned by institutional investors and hedge funds.

Source Capital Stock Up 0.0%

Shares of SOR opened at $44.91 on Monday. Source Capital has a 12-month low of $41.98 and a 12-month high of $50.41. The stock’s fifty day simple moving average is $45.71 and its 200-day simple moving average is $46.65.

Source Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be given a $0.2083 dividend. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Thursday, August 13th.

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.