Short Interest in Source Capital, Inc. (NYSE:SOR) Expands By 352.9%

Source Capital, Inc. (NYSE:SOR) was the recipient of 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. Based on an average daily volume of 9,452 shares, the short-interest ratio is presently 0.4 days. Currently, 0.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Align Financial LLC purchased a new stake in Source Capital in the 4th quarter worth approximately $7,006,000. Diversified Management Inc. acquired a new position in shares of Source Capital in the 4th quarter valued at $5,344,000. Evolve Private Wealth LLC acquired a new position in shares of Source Capital in the 4th quarter valued at $522,000. Shaker Financial Services LLC boosted its holdings in Source Capital by 108.9% during the fourth quarter. Shaker Financial Services LLC now owns 19,324 shares of the financial services provider’s stock worth $884,000 after buying an additional 10,073 shares in the last quarter. Finally, DKM Wealth Management Inc. boosted its holdings in Source Capital by 3.2% during the fourth quarter. DKM Wealth Management Inc. now owns 294,862 shares of the financial services provider’s stock worth $13,493,000 after buying an additional 9,225 shares in the last quarter. 13.15% of the stock is currently owned by hedge funds and other institutional investors.

Source Capital Price Performance

NYSE:SOR traded down $0.10 during mid-day trading on Friday, hitting $44.91. The company’s stock had a trading volume of 4,574 shares, compared to its average volume of 10,285. Source Capital has a 1 year low of $41.98 and a 1 year high of $50.41. The business’s fifty day moving average is $45.71 and its two-hundred day moving average is $46.65.

Source Capital Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%.

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.