Source Capital, Inc. (NYSE:SOR) Sees Significant Growth in Short Interest

Source Capital, Inc. (NYSE:SOR - Get Free Report) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 9,400 shares, an increase of 104.3% from the January 31st total of 4,600 shares. Based on an average daily volume of 13,500 shares, the short-interest ratio is presently 0.7 days.

Source Capital Stock Down 0.1 %

Shares of SOR traded down $0.06 during mid-day trading on Wednesday, hitting $42.47. 4,910 shares of the company's stock were exchanged, compared to its average volume of 12,456. Source Capital has a 52 week low of $40.83 and a 52 week high of $47.91. The stock's 50-day simple moving average is $42.76 and its 200-day simple moving average is $43.84.

Source Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.2083 per share. The ex-dividend date is Friday, March 14th. This represents a $2.50 dividend on an annualized basis and a yield of 5.89%.

Hedge Funds Weigh In On Source Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its holdings in Source Capital by 1.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 16,135 shares of the financial services provider's stock valued at $718,000 after buying an additional 224 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Source Capital by 3.5% during the 3rd quarter. Private Advisor Group LLC now owns 9,314 shares of the financial services provider's stock worth $415,000 after acquiring an additional 319 shares during the period. Lake Street Advisors Group LLC boosted its position in shares of Source Capital by 3.4% during the 4th quarter. Lake Street Advisors Group LLC now owns 15,426 shares of the financial services provider's stock worth $712,000 after acquiring an additional 511 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its stake in Source Capital by 0.8% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 77,073 shares of the financial services provider's stock valued at $3,352,000 after acquiring an additional 630 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its position in Source Capital by 7.0% during the third quarter. Sanctuary Advisors LLC now owns 15,059 shares of the financial services provider's stock valued at $665,000 after purchasing an additional 988 shares in the last quarter. 13.15% of the stock is owned by institutional investors and hedge funds.

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Source Capital Company Profile

Source Capital, Inc is a close-ended balanced fund launched and managed by First Pacific Advisors, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating across diversified sectors. The fund primarily invests in value stocks of small to mid cap companies.