Short Interest in Source Capital, Inc. (NYSE:SOR) Rises By 24.2%

Source Capital, Inc. (NYSE:SOR) was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totalling 8,200 shares, an increase of 24.2% from the July 31st total of 6,600 shares. Based on an average trading volume of 10,800 shares, the short-interest ratio is currently 0.8 days.

Institutional Investors Weigh In On Source Capital

Several large investors have recently modified their holdings of the stock. D.A. Davidson & CO. grew its stake in shares of Source Capital by 9.1% in the 2nd quarter. D.A. Davidson & CO. now owns 138,536 shares of the financial services provider’s stock valued at $6,132,000 after purchasing an additional 11,518 shares during the period. Mesirow Financial Investment Management Inc. grew its position in Source Capital by 0.9% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 75,812 shares of the financial services provider’s stock worth $3,356,000 after acquiring an additional 640 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Source Capital during the 4th quarter worth approximately $807,000. Baltimore Washington Financial Advisors Inc. bought a new stake in Source Capital during the 2nd quarter worth approximately $662,000. Finally, Private Advisor Group LLC bought a new stake in Source Capital during the 1st quarter worth approximately $417,000. 13.15% of the stock is currently owned by institutional investors.

Source Capital Trading Down 0.4 %

Source Capital stock traded down $0.19 during trading hours on Friday, hitting $44.60. The stock had a trading volume of 21,843 shares, compared to its average volume of 13,034. The company has a 50-day moving average of $43.70 and a two-hundred day moving average of $42.63. Source Capital has a fifty-two week low of $37.26 and a fifty-two week high of $47.91.

Source Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 17th will be issued a $0.2083 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $2.50 annualized dividend and a yield of 5.60%.

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.