Source Capital, Inc. (NYSE:SOR) Short Interest Up 174.2% in May

Source Capital, Inc. (NYSE:SOR - Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 8,500 shares, an increase of 174.2% from the April 30th total of 3,100 shares. Based on an average trading volume of 12,500 shares, the short-interest ratio is presently 0.7 days. Approximately 0.5% of the company's shares are sold short.

Hedge Funds Weigh In On Source Capital

Institutional investors have recently bought and sold shares of the stock. Congress Wealth Management LLC DE bought a new position in Source Capital in the fourth quarter worth about $357,000. DKM Wealth Management Inc. bought a new position in Source Capital in the fourth quarter worth about $11,931,000. Raymond James Financial Inc. bought a new position in Source Capital in the fourth quarter worth about $2,231,000. Invesco Ltd. raised its stake in Source Capital by 40.6% in the fourth quarter. Invesco Ltd. now owns 24,944 shares of the financial services provider's stock worth $1,085,000 after buying an additional 7,198 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in Source Capital in the fourth quarter worth about $712,000. 13.15% of the stock is owned by institutional investors.

Source Capital Stock Performance

Shares of NYSE:SOR traded down $0.15 during midday trading on Monday, hitting $42.41. 32,760 shares of the stock traded hands, compared to its average volume of 12,538. Source Capital has a one year low of $38.66 and a one year high of $46.34. The business's 50 day moving average is $41.48 and its two-hundred day moving average is $42.62.

Source Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be paid a $0.2083 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend is Thursday, August 14th.

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.