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

Source Capital, Inc. (NYSE:SOR - Get Free Report) saw a significant drop in short interest in September. As of September 15th, there was short interest totaling 1,614 shares, a drop of 61.5% from the August 31st total of 4,193 shares. Based on an average daily volume of 13,796 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company's stock are short sold.

Source Capital Stock Down 0.1%

Shares of NYSE:SOR opened at $45.36 on Friday. Source Capital has a 12-month low of $44.20 and a 12-month high of $50.41. The business's 50 day moving average is $46.21 and its 200 day moving average is $45.95.

Source Capital Dividend Announcement

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

Hedge Funds Weigh In On Source Capital

A number of hedge funds have recently bought and sold shares of the company. Diversified Management Inc. raised its holdings in shares of Source Capital by 2.8% in the second quarter. Diversified Management Inc. now owns 121,285 shares of the financial services provider's stock valued at $5,575,000 after purchasing an additional 3,316 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Source Capital by 4.4% during the first quarter. First Trust Advisors LP now owns 74,530 shares of the financial services provider's stock valued at $3,452,000 after purchasing an additional 3,113 shares in the last quarter. Anchor Investment Management LLC boosted its holdings in Source Capital by 1.6% during the fourth quarter. Anchor Investment Management LLC now owns 31,885 shares of the financial services provider's stock worth $1,459,000 after purchasing an additional 511 shares during the last quarter. Smith Asset Management Co. LLC boosted its holdings in Source Capital by 0.8% during the fourth quarter. Smith Asset Management Co. LLC now owns 28,345 shares of the financial services provider's stock worth $1,297,000 after purchasing an additional 233 shares during the last quarter. Finally, Readystate Asset Management LP bought a new stake in Source Capital in the 2nd quarter worth about $565,000. 13.15% of the stock is owned by hedge funds and other institutional investors.

Source Capital Company Profile

Source Capital, Inc NYSE: SOR is a diversified closed-end management investment company. The fund seeks long-term growth of capital and current income through investments in equity securities.

Its portfolio may include common stocks, preferred stocks, convertible securities and other investments issued by public and private companies. Source Capital generally follows a value-oriented approach and may invest across a range of industries and geographic markets, with an emphasis on identifying companies that the investment adviser believes are attractively valued.

Source Capital is managed by First Eagle Investment Management, LLC, an investment management firm known for value-oriented strategies.

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