Source Capital, Inc. (NYSE:SOR) Sees Large Drop in Short Interest

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

Source Capital Price Performance

Shares of NYSE:SOR traded up $0.64 during midday trading on Friday, reaching $44.78. 17,983 shares of the company were exchanged, compared to its average volume of 13,251. The business’s fifty day moving average is $43.84 and its two-hundred day moving average is $43.07. Source Capital has a one year low of $37.26 and a one year high of $47.91.

Source Capital Announces Dividend

The business also recently disclosed 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. This represents a dividend yield of 5.68%. The ex-dividend date of this dividend is Tuesday, September 17th.

Institutional Investors Weigh In On Source Capital

Several large investors have recently made changes to their positions in SOR. Mesirow Financial Investment Management Inc. grew its holdings in shares of Source Capital by 0.9% in the second quarter. Mesirow Financial Investment Management Inc. now owns 75,812 shares of the financial services provider’s stock valued at $3,356,000 after purchasing an additional 640 shares in the last quarter. Leo Wealth LLC bought a new position in Source Capital during the fourth quarter valued at $206,000. Belpointe Asset Management LLC purchased a new position in shares of Source Capital in the 4th quarter worth $214,000. Lake Street Advisors Group LLC bought a new stake in shares of Source Capital in the 2nd quarter worth about $417,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Source Capital during the 1st quarter valued at about $417,000. 13.15% of the stock is owned by institutional investors.

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.