Source Capital, Inc. (NYSE:SOR) Stock Short Interest Climbs 58.7%

Source Capital, Inc. (NYSE:SOR) saw a significant growth in short interest in September. As of September 30th, there was short interest totaling 2,562 shares, a growth of 58.7% from the September 15th total of 1,614 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 7,087 shares, the short-interest ratio is currently 0.4 days.

Source Capital Stock Performance

SOR traded up $0.42 during trading hours on Friday, hitting $45.63. 4,445 shares of the stock were exchanged, compared to its average volume of 7,728. The stock has a 50-day simple moving average of $46.01 and a 200-day simple moving average of $45.87. Source Capital has a 12 month low of $44.20 and a 12 month high of $50.41.

Source Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be given a dividend of $0.2083 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Friday, November 13th.

Institutional Investors Weigh In On Source Capital

A number of institutional investors have recently added to or reduced their stakes in SOR. Smith Asset Management Co. LLC boosted its stake in Source Capital by 0.8% during the 4th quarter. Smith Asset Management Co. LLC now owns 28,345 shares of the financial services provider’s stock valued at $1,297,000 after purchasing an additional 233 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Source Capital by 4.5% during the 1st quarter. Cetera Investment Advisers now owns 5,478 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 235 shares during the period. Assetmark Inc. raised its stake in shares of Source Capital by 15.9% in the 1st quarter. Assetmark Inc. now owns 3,586 shares of the financial services provider’s stock worth $166,000 after buying an additional 493 shares in the last quarter. Anchor Investment Management LLC raised its stake in shares of Source Capital by 1.6% in the 4th quarter. Anchor Investment Management LLC now owns 31,885 shares of the financial services provider’s stock worth $1,459,000 after buying an additional 511 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Source Capital by 8.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,338 shares of the financial services provider’s stock worth $340,000 after buying an additional 600 shares in the last quarter. 13.15% of the stock is currently owned by institutional investors and hedge funds.

Source Capital Company Profile

Source Capital, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol SOR. The company seeks long-term growth of capital and current income by investing in a diversified portfolio of securities.

Its portfolio may include common and preferred stocks, convertible securities, and other investments in public and private companies. Source Capital has historically focused on identifying businesses with potential for capital appreciation while also pursuing income through dividends and interest.

The fund is managed as an investment portfolio rather than operating a conventional commercial business, and its investment exposure can span companies and industries in the United States and other markets.