Short Interest in Source Capital, Inc. (NYSE:SOR) Decreases By 98.3%

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOR. First Trust Advisors LP boosted its holdings in Source Capital by 2.0% in 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 in the last quarter. Raymond James Financial Inc. boosted its holdings in Source Capital by 4.9% in the second quarter. Raymond James Financial Inc. now owns 46,000 shares of the financial services provider’s stock worth $1,995,000 after acquiring an additional 2,165 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Source Capital by 120.1% in the second quarter. Osaic Holdings Inc. now owns 11,811 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 6,445 shares in the last quarter. Assetmark Inc. boosted its holdings in Source Capital by 56.0% in the third quarter. Assetmark Inc. now owns 3,093 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 1,110 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Source Capital by 30.9% in the third quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 407 shares in the last quarter. Institutional investors own 13.15% of the company’s stock.

Source Capital Trading Up 0.1%

NYSE SOR traded up $0.05 during trading hours on Wednesday, hitting $45.20. 6,791 shares of the company’s stock were exchanged, compared to its average volume of 14,014. The stock has a 50-day simple moving average of $45.81 and a 200 day simple moving average of $46.86. Source Capital has a 1-year low of $41.93 and a 1-year high of $50.41.

Source Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be paid a dividend of $0.2083 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend 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.