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

Source Capital, Inc. (NYSE:SOR - Get Free Report) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 15,500 shares, an increase of 82.4% from the May 15th total of 8,500 shares. Based on an average daily trading volume, of 13,500 shares, the short-interest ratio is currently 1.1 days. Currently, 0.8% of the shares of the company are short sold.

Hedge Funds Weigh In On Source Capital

Hedge funds have recently modified their holdings of the company. NBC Securities Inc. bought a new position in shares of Source Capital in the first quarter worth approximately $40,000. Cornerstone Advisors LLC bought a new position in shares of Source Capital in the first quarter worth approximately $120,000. Jones Financial Companies Lllp bought a new position in shares of Source Capital in the fourth quarter worth approximately $206,000. Cary Street Partners Financial LLC bought a new position in shares of Source Capital in the fourth quarter worth approximately $242,000. Finally, Congress Wealth Management LLC DE bought a new position in shares of Source Capital in the fourth quarter worth approximately $357,000. 13.15% of the stock is currently owned by institutional investors.

Source Capital Stock Down 0.5%

SOR stock traded down $0.23 during midday trading on Tuesday, reaching $42.40. 4,410 shares of the company's stock traded hands, compared to its average volume of 12,677. Source Capital has a 52-week low of $38.66 and a 52-week high of $46.34. The stock's 50-day moving average is $41.84 and its 200 day moving average is $42.49.

Source Capital Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, June 18th will be given a $0.2083 dividend. The ex-dividend date is Tuesday, June 17th. This represents a dividend yield of 5.87%.

About Source Capital

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.