Source Capital, Inc. (NYSE:SOR) Short Interest Up 33.3% in March

Source Capital, Inc. (NYSE:SOR) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 8,000 shares, a growth of 33.3% from the March 15th total of 6,000 shares. Based on an average daily trading volume, of 14,600 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On Source Capital

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

Source Capital Price Performance

SOR stock traded down $0.34 during midday trading on Monday, reaching $41.23. The stock had a trading volume of 16,436 shares, compared to its average volume of 14,762. The business has a fifty day simple moving average of $41.53 and a two-hundred day simple moving average of $40.19. Source Capital has a twelve month low of $36.48 and a twelve month high of $42.92.

Source Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 16th will be given a $0.2083 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.50 dividend on an annualized basis and a yield of 6.06%.

Source Capital Company Profile

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.