Source Capital, Inc. (NYSE:SOR) Short Interest Down 44.7% in July

Source Capital, Inc. (NYSE:SOR) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 4,119 shares, a drop of 44.7% from the June 30th total of 7,442 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 10,408 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Source Capital

Institutional investors have recently modified their holdings of the business. First Trust Advisors LP raised its position in shares of Source Capital by 2.0% during the second quarter. First Trust Advisors LP now owns 69,152 shares of the financial services provider’s stock worth $2,999,000 after acquiring an additional 1,353 shares during the last quarter. Raymond James Financial Inc. increased its position in Source Capital by 4.9% during the 2nd quarter. Raymond James Financial Inc. now owns 46,000 shares of the financial services provider’s stock valued at $1,995,000 after purchasing an additional 2,165 shares during the period. Osaic Holdings Inc. raised its holdings in Source Capital by 120.1% during the 2nd quarter. Osaic Holdings Inc. now owns 11,811 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 6,445 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Source Capital by 30.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 407 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Source Capital by 4.3% in the 3rd quarter. NewEdge Advisors LLC now owns 7,334 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 300 shares during the period. Institutional investors own 13.15% of the company’s stock.

Source Capital Stock Up 0.6%

NYSE:SOR traded up $0.29 during mid-day trading on Thursday, hitting $45.87. 6,436 shares of the company’s stock were exchanged, compared to its average volume of 8,902. Source Capital has a fifty-two week low of $43.16 and a fifty-two week high of $50.41. The company has a 50 day simple moving average of $45.57 and a 200-day simple moving average of $46.44.

Source Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.2083 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Friday, November 13th.

About Source Capital

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.