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

Key Points

• Source Capital, Inc. (NYSE:SOR) experienced a significant decrease in short interest, dropping by 31.2% in July, with a total of 9,500 shares shorted as of July 31st.
• Institutional investors have increased their stakes in Source Capital, with notable purchases including D.A. Davidson & CO. increasing by 9% and Hennion & Walsh Asset Management growing their stake by 23.9%.
• The company declared a dividend of $0.2083 per share paid on July 31st, yielding an impressive 568%.

Source Capital, Inc. (NYSE:SOR - Get Free Report) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 9,500 shares, adeclineof31.2% from the July 15th total of 13,800 shares. Currently,0.5% of the company's stock are sold short. Based on an average daily trading volume, of 10,900 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily trading volume, of 10,900 shares, the days-to-cover ratio is currently 0.9 days. Currently,0.5% of the company's stock are sold short.

Hedge Funds Weigh In On Source Capital

Several institutional investors have recently made changes to their positions in SOR. Invesco Ltd. grew its holdings in shares of Source Capital by 40.6% during the fourth quarter. Invesco Ltd. now owns 24,944 shares of the financial services provider's stock valued at $1,085,000 after purchasing an additional 7,198 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Source Capital during the fourth quarter valued at approximately $2,231,000. Cary Street Partners Financial LLC bought a new position in shares of Source Capital during the fourth quarter valued at approximately $242,000. NBC Securities Inc. bought a new position in shares of Source Capital during the first quarter valued at approximately $40,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Source Capital by 23.9% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 32,305 shares of the financial services provider's stock worth $1,341,000 after buying an additional 6,224 shares in the last quarter. 13.15% of the stock is owned by institutional investors.

Source Capital Stock Up 0.4%

Shares of NYSE:SOR traded up $0.17 during trading on Monday, hitting $44.28. 8,189 shares of the company traded hands, compared to its average volume of 12,447. The business's fifty day moving average is $43.63 and its 200-day moving average is $42.48. Source Capital has a one year low of $38.66 and a one year high of $46.34.

Source Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.2083 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a c) annualized dividend and a dividend yield of 5.6%.

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.