Short Interest in Source Capital, Inc. (NYSE:SOR) Decreases By 38.7%

Source Capital, Inc. (NYSE:SOR) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 3,800 shares, a decrease of 38.7% from the March 15th total of 6,200 shares. Based on an average daily volume of 13,000 shares, the short-interest ratio is presently 0.3 days.

SOR traded up $0.12 during midday trading on Friday, reaching $44.67. 6,441 shares of the company’s stock traded hands, compared to its average volume of 12,625. The firm has a fifty day moving average of $43.40 and a two-hundred day moving average of $40.49. Source Capital has a 52 week low of $30.47 and a 52 week high of $45.23.

The business also recently declared a monthly dividend, which will be paid on Friday, May 28th. Investors of record on Monday, May 17th will be paid a $0.1217 dividend. The ex-dividend date of this dividend is Friday, May 14th. This represents a $1.46 annualized dividend and a dividend yield of 3.27%.

Several institutional investors have recently bought and sold shares of the stock. Park Avenue Securities LLC grew its stake in shares of Source Capital by 6.5% in the 4th quarter. Park Avenue Securities LLC now owns 19,899 shares of the financial services provider’s stock worth $794,000 after buying an additional 1,215 shares during the last quarter. Ropes Wealth Advisors LLC purchased a new stake in shares of Source Capital in the 4th quarter worth approximately $58,000. AMI Investment Management Inc. grew its stake in shares of Source Capital by 2.8% in the 4th quarter. AMI Investment Management Inc. now owns 56,721 shares of the financial services provider’s stock worth $2,264,000 after buying an additional 1,520 shares during the last quarter. Morgan Stanley grew its stake in shares of Source Capital by 7.4% in the 3rd quarter. Morgan Stanley now owns 31,636 shares of the financial services provider’s stock worth $1,166,000 after buying an additional 2,183 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Source Capital by 6.0% in the 1st quarter. First Trust Advisors LP now owns 61,959 shares of the financial services provider’s stock worth $2,231,000 after buying an additional 3,486 shares during the last quarter. Institutional investors own 24.13% of the company’s stock.

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.

Featured Story: Stop Order

Receive News & Ratings for Source Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Source Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit