Short Interest in Source Capital, Inc. (NYSE:SOR) Decreases By 31.3%

Source Capital, Inc. (NYSE:SOR) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 5,700 shares, a decrease of 31.3% from the February 28th total of 8,300 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 14,700 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Source Capital

Institutional investors have recently modified their holdings of the company. DKM Wealth Management Inc. purchased a new position in Source Capital in the 4th quarter valued at approximately $11,931,000. D.A. Davidson & CO. lifted its position in shares of Source Capital by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 157,030 shares of the financial services provider’s stock worth $6,829,000 after buying an additional 5,342 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Source Capital by 0.8% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 77,073 shares of the financial services provider’s stock valued at $3,352,000 after buying an additional 630 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Source Capital in the 4th quarter valued at $2,231,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Source Capital by 77.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 26,081 shares of the financial services provider’s stock worth $1,134,000 after purchasing an additional 11,392 shares during the last quarter. 13.15% of the stock is owned by institutional investors and hedge funds.

Source Capital Stock Up 0.8 %

SOR traded up $0.35 on Tuesday, hitting $41.86. The company had a trading volume of 18,209 shares, compared to its average volume of 12,303. The company’s fifty day moving average price is $42.19 and its 200 day moving average price is $43.52. Source Capital has a 1 year low of $41.00 and a 1 year high of $47.91.

Source Capital Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.2083 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a dividend yield of 6%.

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.