Source Capital, Inc. (NYSE:SOR) Short Interest Up 143.9% in August

Source Capital, Inc. (NYSE:SOR) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 20,000 shares, an increase of 143.9% from the August 15th total of 8,200 shares. Based on an average trading volume of 11,700 shares, the short-interest ratio is currently 1.7 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SOR. Mesirow Financial Investment Management Inc. lifted its holdings in 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 acquiring an additional 640 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in Source Capital by 45.3% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 5,450 shares of the financial services provider’s stock valued at $235,000 after buying an additional 1,700 shares in the last quarter. Leo Wealth LLC purchased a new position in Source Capital during the 4th quarter valued at approximately $206,000. Belpointe Asset Management LLC purchased a new position in Source Capital during the 4th quarter valued at approximately $214,000. Finally, D.A. Davidson & CO. boosted its holdings in shares of Source Capital by 6.6% in the 4th quarter. D.A. Davidson & CO. now owns 123,103 shares of the financial services provider’s stock worth $4,970,000 after purchasing an additional 7,572 shares during the period. 13.15% of the stock is owned by institutional investors.

Source Capital Trading Up 0.1 %

Shares of NYSE SOR traded up $0.05 during trading on Thursday, reaching $43.81. The company had a trading volume of 4,368 shares, compared to its average volume of 13,111. Source Capital has a 12-month low of $37.26 and a 12-month high of $47.91. The business’s 50-day moving average is $43.78 and its 200 day moving average is $42.86.

Source Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.2083 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date of this dividend is Tuesday, September 17th.

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.