Short Interest in Source Capital, Inc. (NYSE:SOR) Decreases By 50.0%

Source Capital, Inc. (NYSE:SORGet Rating) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 2,300 shares, a decrease of 50.0% from the March 15th total of 4,600 shares. Based on an average trading volume of 15,000 shares, the short-interest ratio is presently 0.2 days.

A number of hedge funds have recently added to or reduced their stakes in SOR. Shaker Financial Services LLC raised its position in shares of Source Capital by 10.7% during the fourth quarter. Shaker Financial Services LLC now owns 153,371 shares of the financial services provider’s stock valued at $6,627,000 after buying an additional 14,809 shares during the last quarter. Litman Gregory Wealth Management LLC raised its position in shares of Source Capital by 18.6% during the fourth quarter. Litman Gregory Wealth Management LLC now owns 108,393 shares of the financial services provider’s stock valued at $4,684,000 after buying an additional 17,036 shares during the last quarter. First Trust Advisors LP raised its position in shares of Source Capital by 5.2% during the fourth quarter. First Trust Advisors LP now owns 93,529 shares of the financial services provider’s stock valued at $4,041,000 after buying an additional 4,649 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Source Capital by 5.6% during the fourth quarter. D.A. Davidson & CO. now owns 81,434 shares of the financial services provider’s stock valued at $3,518,000 after buying an additional 4,344 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new position in shares of Source Capital during the third quarter valued at about $64,000. Institutional investors own 21.68% of the company’s stock.

SOR stock traded up $0.33 during mid-day trading on Friday, reaching $40.84. 6,673 shares of the stock traded hands, compared to its average volume of 13,448. Source Capital has a 52 week low of $39.63 and a 52 week high of $47.50. The business has a 50-day moving average of $41.28 and a two-hundred day moving average of $43.25.

The company also recently declared a monthly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 17th will be issued a dividend of $0.185 per share. This represents a $2.22 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date is Monday, May 16th.

Source Capital Company Profile (Get Rating)

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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