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

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

Source Capital Stock Performance

Shares of SOR opened at $46.22 on Friday. The firm has a fifty day simple moving average of $45.64 and a 200 day simple moving average of $46.54. Source Capital has a 12 month low of $41.98 and a 12 month high of $50.41.

Source Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be given a dividend of $0.2083 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a yield of 5.4%.

Hedge Funds Weigh In On Source Capital

Hedge funds and other institutional investors have recently bought and sold shares of the business. Smith Asset Management Co. LLC boosted its stake in shares of Source Capital by 0.8% during the 4th quarter. Smith Asset Management Co. LLC now owns 28,345 shares of the financial services provider’s stock worth $1,297,000 after acquiring an additional 233 shares during the period. Cetera Investment Advisers lifted its holdings in Source Capital by 4.5% during the 1st quarter. Cetera Investment Advisers now owns 5,478 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 235 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Source Capital by 4.3% in the 3rd quarter. NewEdge Advisors LLC now owns 7,334 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 300 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Source Capital by 30.9% in the third quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 407 shares in the last quarter. Finally, Assetmark Inc. grew its position in shares of Source Capital by 15.9% during the 1st quarter. Assetmark Inc. now owns 3,586 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 493 shares in the last quarter. Institutional investors own 13.15% of the company’s stock.

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.