Source Capital, Inc. (NYSE:SOR) Short Interest Update

Source Capital, Inc. (NYSE:SOR) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 6,000 shares, a decrease of 26.8% from the February 29th total of 8,200 shares. Based on an average daily volume of 16,000 shares, the days-to-cover ratio is currently 0.4 days.

Source Capital Trading Up 0.2 %

SOR stock opened at $42.49 on Friday. The company’s 50 day simple moving average is $41.02 and its 200-day simple moving average is $39.90. Source Capital has a 12 month low of $36.48 and a 12 month high of $42.75.

Source Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, April 18th will be given a dividend of $0.2083 per share. The ex-dividend date is Wednesday, April 17th. This represents a $2.50 dividend on an annualized basis and a yield of 5.88%.

Institutional Trading of Source Capital

A number of hedge funds have recently bought and sold shares of SOR. NBC Securities Inc. acquired a new position in shares of Source Capital in the 3rd quarter valued at about $36,000. Cullen Frost Bankers Inc. acquired a new position in shares of Source Capital in the 4th quarter valued at about $36,000. Royal Bank of Canada boosted its holdings in shares of Source Capital by 19.5% in the 3rd quarter. Royal Bank of Canada now owns 2,363 shares of the financial services provider’s stock valued at $83,000 after buying an additional 386 shares during the period. Belpointe Asset Management LLC boosted its holdings in shares of Source Capital by 83.3% in the 1st quarter. Belpointe Asset Management LLC now owns 2,535 shares of the financial services provider’s stock valued at $96,000 after buying an additional 1,152 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Source Capital by 52.2% in the 4th quarter. UBS Group AG now owns 4,972 shares of the financial services provider’s stock valued at $192,000 after buying an additional 1,706 shares during the period. Institutional investors and hedge funds own 13.15% of the company’s stock.

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.