Source Capital, Inc. (NYSE:SOR) Short Interest Down 31.3% in March

Source Capital, Inc. (NYSE:SOR) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 5,700 shares, a decline of 31.3% from the February 28th total of 8,300 shares. Based on an average daily trading volume, of 14,700 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Trading of Source Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. grew its holdings in Source Capital by 77.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 26,081 shares of the financial services provider’s stock valued at $1,134,000 after buying an additional 11,392 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Source Capital during the fourth quarter worth $712,000. Sanctuary Advisors LLC grew its stake in Source Capital by 7.0% during the third quarter. Sanctuary Advisors LLC now owns 15,059 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 988 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Source Capital by 6.7% in the 4th quarter. Park Avenue Securities LLC now owns 17,416 shares of the financial services provider’s stock valued at $757,000 after acquiring an additional 1,092 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in Source Capital in the 4th quarter worth $206,000. Institutional investors own 13.15% of the company’s stock.

Source Capital Trading Down 0.5 %

Source Capital stock traded down $0.21 during mid-day trading on Friday, hitting $41.57. The stock had a trading volume of 17,091 shares, compared to its average volume of 12,292. Source Capital has a one year low of $41.00 and a one year high of $47.91. The firm’s 50 day moving average is $42.21 and its 200 day moving average is $43.54.

Source Capital Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.2083 per share. This represents a dividend yield of 6%. The ex-dividend date is Thursday, May 15th.

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.