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

Source Capital, Inc. (NYSE:SOR) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 6,900 shares, an increase of 21.1% from the March 15th total of 5,700 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 14,400 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On Source Capital

Institutional investors and hedge funds have recently bought and sold shares of the business. NBC Securities Inc. purchased a new stake in shares of Source Capital during the first quarter worth $40,000. Jones Financial Companies Lllp acquired a new stake in shares of Source Capital in the fourth quarter worth $206,000. Cary Street Partners Financial LLC acquired a new position in Source Capital in the 4th quarter valued at $242,000. Congress Wealth Management LLC DE bought a new stake in Source Capital during the fourth quarter valued at about $357,000. Finally, Sanctuary Advisors LLC grew its position in shares of Source Capital by 7.0% in the third quarter. Sanctuary Advisors LLC now owns 15,059 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 988 shares during the last quarter. Hedge funds and other institutional investors own 13.15% of the company’s stock.

Source Capital Trading Down 1.8 %

SOR traded down $0.74 during trading on Monday, reaching $40.36. The company had a trading volume of 37,750 shares, compared to its average volume of 12,791. Source Capital has a 12-month low of $38.66 and a 12-month high of $47.91. The firm’s 50-day simple moving average is $41.59 and its 200 day simple moving average is $43.10.

Source Capital Cuts Dividend

The firm also recently declared a — dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.2083 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a dividend yield of 6%.

About Source Capital

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.