Source Capital, Inc. (NYSE:SOR) Short Interest Up 21.1% in March

Source Capital, Inc. (NYSE:SOR - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 6,900 shares, a growth of 21.1% from the March 15th total of 5,700 shares. Currently, 0.4% of the company's shares are short sold. Based on an average daily trading volume, of 14,400 shares, the days-to-cover ratio is currently 0.5 days.

Source Capital Stock Performance

Source Capital stock traded up $0.17 during trading hours on Wednesday, hitting $40.78. 13,735 shares of the stock traded hands, compared to its average volume of 12,824. Source Capital has a one year low of $32.25 and a one year high of $47.91. The firm's 50-day moving average price is $41.55 and its two-hundred day moving average price is $43.08.

Source Capital Cuts Dividend

The company also recently declared a -- dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be paid a $0.2083 dividend. The ex-dividend date is Thursday, May 15th. This represents a yield of 6%.

Hedge Funds Weigh In On Source Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOR. NBC Securities Inc. bought a new position in shares of Source Capital in the 1st quarter worth about $40,000. Jones Financial Companies Lllp purchased a new stake in Source Capital in the fourth quarter worth about $206,000. Cary Street Partners Financial LLC bought a new position in shares of Source Capital during the fourth quarter valued at approximately $242,000. Congress Wealth Management LLC DE purchased a new position in shares of Source Capital during the fourth quarter valued at approximately $357,000. Finally, Sanctuary Advisors LLC boosted its position in shares of Source Capital by 7.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,059 shares of the financial services provider's stock worth $665,000 after purchasing an additional 988 shares in the last quarter. Hedge funds and other institutional investors own 13.15% of the company's stock.

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.