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

Source Capital, Inc. (NYSE:SOR) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 1,669 shares, a drop of 43.0% from the March 15th total of 2,928 shares. Based on an average trading volume of 9,881 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SOR. Align Financial LLC purchased a new position in Source Capital during the 4th quarter valued at about $7,006,000. Diversified Management Inc. bought a new stake in Source Capital during the 4th quarter valued at about $5,344,000. Evolve Private Wealth LLC bought a new stake in Source Capital during the 4th quarter valued at about $522,000. Shaker Financial Services LLC increased its stake in Source Capital by 108.9% during the 4th quarter. Shaker Financial Services LLC now owns 19,324 shares of the financial services provider’s stock valued at $884,000 after purchasing an additional 10,073 shares in the last quarter. Finally, Capital Investment Counsel Inc bought a new stake in Source Capital during the 3rd quarter valued at about $451,000. 13.15% of the stock is owned by hedge funds and other institutional investors.

Source Capital Trading Down 0.1%

NYSE SOR traded down $0.04 during trading hours on Wednesday, reaching $46.50. 9,012 shares of the company’s stock traded hands, compared to its average volume of 14,843. Source Capital has a 52-week low of $39.55 and a 52-week high of $50.41. The firm has a 50-day simple moving average of $46.88 and a 200 day simple moving average of $46.75.

Source Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 14th will be given a dividend of $0.2083 per share. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Thursday, May 14th.

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.