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

Source Capital, Inc. (NYSE:SOR) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totaling 12 shares, a decline of 98.3% from the April 30th total of 706 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 13,362 shares, the short-interest ratio is presently 0.0 days.

Institutional Trading of Source Capital

Large investors have recently made changes to their positions in the company. WHI TRUST Co LLC acquired a new stake in shares of Source Capital in the 4th quarter valued at about $42,000. PNC Financial Services Group Inc. boosted its position in shares of Source Capital by 1,900.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 950 shares during the period. Manchester Capital Management LLC acquired a new stake in shares of Source Capital in the 4th quarter valued at about $68,000. JPMorgan Chase & Co. boosted its position in shares of Source Capital by 30.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 407 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Source Capital in the 4th quarter valued at about $85,000. 13.15% of the stock is owned by institutional investors and hedge funds.

Source Capital Stock Performance

Shares of SOR stock traded up $0.56 on Thursday, reaching $45.63. 12,225 shares of the stock were exchanged, compared to its average volume of 13,508. The business’s 50 day moving average price is $45.81 and its 200 day moving average price is $46.86. Source Capital has a twelve month low of $41.93 and a twelve month high of $50.41.

Source Capital Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 5.5%.

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.