Source Capital, Inc. (NYSE:SOR – Get Rating) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 4,500 shares, a decline of 19.6% from the August 31st total of 5,600 shares. Based on an average daily trading volume, of 15,000 shares, the days-to-cover ratio is presently 0.3 days.
Institutional Trading of Source Capital
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in Source Capital in the second quarter valued at approximately $141,000. Jones Financial Companies Lllp acquired a new position in shares of Source Capital in the first quarter worth $145,000. LPL Financial LLC acquired a new position in shares of Source Capital in the second quarter worth $219,000. Janney Montgomery Scott LLC acquired a new position in shares of Source Capital in the second quarter worth $225,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in shares of Source Capital in the fourth quarter worth $235,000. Hedge funds and other institutional investors own 21.99% of the company's stock.
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Source Capital Stock Down 1.0 %
Shares of SOR stock traded down $0.37 during trading on Friday, hitting $35.00. 25,094 shares of the stock traded hands, compared to its average volume of 16,786. The firm's fifty day moving average price is $37.67 and its 200-day moving average price is $38.56. Source Capital has a 52-week low of $34.43 and a 52-week high of $47.30.
Source Capital Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th will be given a $0.185 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date of this dividend is Tuesday, November 15th.
About Source Capital
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Source Capital (SOR)
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