Short Interest in Source Capital, Inc. (NYSE:SOR) Grows By 670.0%

Source Capital, Inc. (NYSE:SOR) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 7,700 shares, an increase of 670.0% from the October 15th total of 1,000 shares. Based on an average daily volume of 12,800 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On Source Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOR. Private Advisor Group LLC lifted its stake in Source Capital by 3.5% during the 3rd quarter. Private Advisor Group LLC now owns 9,314 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 319 shares in the last quarter. Lake Street Advisors Group LLC purchased a new position in Source Capital during the 2nd quarter valued at about $417,000. Sanctuary Advisors LLC acquired a new stake in Source Capital in the 2nd quarter worth approximately $583,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Source Capital by 220.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 14,689 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 10,102 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. acquired a new stake in Source Capital in the second quarter worth $662,000. Hedge funds and other institutional investors own 13.15% of the company’s stock.

Source Capital Price Performance

SOR stock traded down $0.15 during midday trading on Tuesday, reaching $44.92. The company had a trading volume of 5,441 shares, compared to its average volume of 12,958. The firm has a 50-day moving average price of $44.14 and a 200-day moving average price of $43.59. Source Capital has a 1 year low of $38.80 and a 1 year high of $47.91.

Source Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.2083 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date is Friday, February 14th.

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.