Source Capital, Inc. (NYSE:SOR) Short Interest Up 82.2% in June

Source Capital, Inc. (NYSE:SOR) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totaling 7,442 shares, an increase of 82.2% from the June 15th total of 4,085 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 14,494 shares, the short-interest ratio is currently 0.5 days.

Source Capital Stock Performance

SOR opened at $45.53 on Friday. Source Capital has a twelve month low of $41.98 and a twelve month high of $50.41. The firm’s 50-day moving average price is $45.62 and its 200 day moving average price is $46.54.

Source Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Thursday, August 13th will be paid a $0.2083 dividend. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SOR. DKM Wealth Management Inc. increased its holdings in shares of Source Capital by 3.2% in the fourth quarter. DKM Wealth Management Inc. now owns 294,862 shares of the financial services provider’s stock valued at $13,493,000 after purchasing an additional 9,225 shares during the last quarter. Align Financial LLC purchased a new position in Source Capital during the fourth quarter worth approximately $7,006,000. Diversified Management Inc. lifted its position in Source Capital by 2.8% during the second quarter. Diversified Management Inc. now owns 121,285 shares of the financial services provider’s stock worth $5,575,000 after buying an additional 3,316 shares in the last quarter. First Trust Advisors LP boosted its stake in Source Capital by 4.4% during the first quarter. First Trust Advisors LP now owns 74,530 shares of the financial services provider’s stock worth $3,452,000 after buying an additional 3,113 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Source Capital by 8.9% during the fourth quarter. Wells Fargo & Company MN now owns 60,823 shares of the financial services provider’s stock worth $2,783,000 after buying an additional 4,951 shares during the last quarter. 13.15% of the stock is currently owned by institutional investors and hedge funds.

About Source Capital

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.