Short Interest in Source Capital, Inc. (NYSE:SOR) Drops By 64.9%

Source Capital, Inc. (NYSE:SOR) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,700 shares, a decrease of 64.9% from the October 31st total of 7,700 shares. Based on an average daily volume of 12,100 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Source Capital

Several institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its stake in shares of Source Capital by 1.4% in the third quarter. Thrivent Financial for Lutherans now owns 16,135 shares of the financial services provider’s stock worth $718,000 after acquiring an additional 224 shares during the period. Private Advisor Group LLC grew its position in Source Capital by 3.5% in the 3rd quarter. Private Advisor Group LLC now owns 9,314 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 319 shares during the period. Mesirow Financial Investment Management Inc. raised its stake in Source Capital by 0.8% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 76,443 shares of the financial services provider’s stock valued at $3,404,000 after buying an additional 631 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Source Capital by 7.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,059 shares of the financial services provider’s stock valued at $665,000 after buying an additional 988 shares during the period. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Source Capital by 58.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 14,915 shares of the financial services provider’s stock valued at $664,000 after buying an additional 5,495 shares during the period. 13.15% of the stock is currently owned by hedge funds and other institutional investors.

Source Capital Stock Up 1.1 %

Source Capital stock traded up $0.51 during trading hours on Wednesday, hitting $44.95. The stock had a trading volume of 10,032 shares, compared to its average volume of 12,757. The stock’s 50-day moving average price is $44.27 and its 200-day moving average price is $43.80. Source Capital has a 12-month low of $39.36 and a 12-month high of $47.91.

Source Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be given a $0.2083 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.50 annualized dividend and a yield of 5.56%.

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.