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

Key Points

• Short interest plunged 79.1% to 861 shares as of July 31, down from 4,119 shares on July 15. Short interest represented 0.0% of outstanding shares, with a short-interest ratio of 0.1 days.
• Institutional investors and hedge funds own 13.15% of Source Capital; several firms recently initiated or increased positions, including PNC Financial Services, JPMorgan Chase, and Kestra Advisory Services.
• Source Capital shares opened at $46.76, within a 52-week range of $43.61 to $50.41. The company announced a monthly dividend of $0.2083 per share, representing an annualized yield of approximately 5.3%.

Source Capital, Inc. (NYSE:SOR - Get Free Report) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 861 shares, a decline of 79.1% from the July 15th total of 4,119 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 9,459 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Source Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the business. WHI TRUST Co LLC purchased a new stake in Source Capital during the fourth quarter worth approximately $42,000. PNC Financial Services Group Inc. increased its stake in Source Capital by 1,900.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 950 shares during the last quarter. Manchester Capital Management LLC acquired a new stake in Source Capital during the fourth quarter worth approximately $68,000. JPMorgan Chase & Co. raised its holdings in Source Capital by 30.9% during the third quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider's stock worth $78,000 after purchasing an additional 407 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Source Capital during the fourth quarter worth approximately $85,000. Institutional investors and hedge funds own 13.15% of the company's stock.

Source Capital Stock Performance

Source Capital stock opened at $46.76 on Wednesday. Source Capital has a 1-year low of $43.61 and a 1-year high of $50.41. The stock's fifty day moving average is $45.77 and its two-hundred day moving average is $46.38.

Source Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be issued a $0.2083 dividend. The ex-dividend date is Friday, November 13th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%.

Source Capital Company Profile

Source Capital Inc is an externally managed specialty finance company that provides flexible financing solutions to U.S. middle-market companies. Structured as a closed-end investment company, it focuses on investing in both debt and equity securities of businesses seeking growth capital, refinancing, acquisitions, recapitalizations and other strategic initiatives.

The company's investment strategy encompasses senior secured loans, unitranche facilities, second-lien financings, mezzanine debt and equity co-investments.

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