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

Source Capital, Inc. (NYSE:SOR) was the recipient of a large decrease in short interest in 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 short-interest ratio is currently 0.2 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC boosted its position in shares of Source Capital by 3.5% during the third quarter. Private Advisor Group LLC now owns 9,314 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 319 shares during the last quarter. Lake Street Advisors Group LLC purchased a new position in shares of Source Capital during the second quarter valued at about $417,000. Sanctuary Advisors LLC purchased a new position in shares of Source Capital during the second quarter valued at about $583,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Source Capital by 220.2% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,689 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 10,102 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Source Capital in the second quarter worth about $662,000. Institutional investors own 13.15% of the company’s stock.

Source Capital Trading Up 1.1 %

Shares of Source Capital stock traded up $0.51 on Wednesday, hitting $44.95. 10,032 shares of the company’s stock were exchanged, compared to its average volume of 12,757. Source Capital has a 1 year low of $39.36 and a 1 year high of $47.91. The company has a 50-day simple moving average of $44.27 and a 200-day simple moving average of $43.80.

Source Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.2083 per share. This represents a $2.50 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend is Monday, December 16th.

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.