Source Capital, Inc. (NYSE:SOR) Short Interest Down 57.5% in September

Source Capital, Inc. (NYSE:SOR) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 8,500 shares, a decrease of 57.5% from the August 31st total of 20,000 shares. Based on an average trading volume of 12,400 shares, the days-to-cover ratio is presently 0.7 days.

Source Capital Price Performance

Shares of NYSE SOR traded up $0.64 during midday trading on Friday, hitting $44.78. 17,983 shares of the company’s stock traded hands, compared to its average volume of 13,251. The firm has a fifty day moving average of $43.84 and a 200 day moving average of $43.07. Source Capital has a 1 year low of $37.26 and a 1 year high of $47.91.

Source Capital Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be issued a dividend of $0.2083 per share. The ex-dividend date is Tuesday, September 17th. This represents a yield of 5.68%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Leo Wealth LLC purchased a new stake in Source Capital in the fourth quarter worth about $206,000. Belpointe Asset Management LLC bought a new stake in Source Capital during the 4th quarter worth approximately $214,000. Private Advisor Group LLC bought a new stake in Source Capital during the 1st quarter worth approximately $417,000. Lake Street Advisors Group LLC purchased a new position in Source Capital during the second quarter valued at approximately $417,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Source Capital in the second quarter worth approximately $583,000. 13.15% of the stock is currently owned by institutional investors.

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.