Source Capital, Inc. (NYSE:SOR) Sees Large Decline in Short Interest

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 - ) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 9,500 shares, adecreaseof31.2% from the July 15th total of 13,800 shares. Based on an average trading volume of 10,900 shares, the short-interest ratio is presently 0.9 days. Currently,0.5% of the shares of the company are short sold. Currently,0.5% of the shares of the company are short sold. Based on an average trading volume of 10,900 shares, the short-interest ratio is presently 0.9 days.

Institutional Investors Weigh In On Source Capital

Large investors have recently bought and sold shares of the company. D.A. Davidson & CO. grew its stake in Source Capital by 9.0% during the first quarter. D.A. Davidson & CO. now owns 171,106 shares of the financial services provider's stock worth $7,102,000 after buying an additional 14,076 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Source Capital by 23.9% during the first 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. Shaker Financial Services LLC grew its stake in Source Capital by 47.4% during the first quarter. Shaker Financial Services LLC now owns 26,591 shares of the financial services provider's stock worth $1,104,000 after buying an additional 8,553 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in Source Capital during the first quarter worth about $826,000. Finally, Raymond James Financial Inc. acquired a new stake in Source Capital during the fourth quarter worth about $2,231,000. 13.15% of the stock is currently owned by institutional investors and hedge funds.

Source Capital Trading Down 0.6%

Shares of SOR stock traded down $0.2590 on Wednesday, hitting $43.7710. The company's stock had a trading volume of 2,845 shares, compared to its average volume of 12,514. The stock's 50 day moving average is $43.56 and its 200-day moving average is $42.45. Source Capital has a fifty-two week low of $38.66 and a fifty-two week high of $46.34.

Source Capital Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th were paid a dividend of $0.2083 per share. This represents a yield of 568.0%. The ex-dividend date was Wednesday, July 16th.

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.

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