Source Capital, Inc. (NYSE:SOR - Get Free Report) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 9,400 shares, an increase of 104.3% from the January 31st total of 4,600 shares. Based on an average daily trading volume, of 13,500 shares, the days-to-cover ratio is currently 0.7 days.
A number of large investors have recently modified their holdings of SOR. D.A. Davidson & CO. lifted its position in Source Capital by 9.5% in the 3rd quarter. D.A. Davidson & CO. now owns 151,688 shares of the financial services provider's stock valued at $6,754,000 after purchasing an additional 13,152 shares during the last quarter. International Assets Investment Management LLC lifted its position in Source Capital by 4,352.5% in the 3rd quarter. International Assets Investment Management LLC now owns 22,040 shares of the financial services provider's stock valued at $981,000 after purchasing an additional 21,545 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Source Capital by 77.6% in 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 purchasing an additional 11,392 shares during the last quarter. Private Advisor Group LLC lifted its position in Source Capital by 3.5% in the 3rd quarter. Private Advisor Group LLC now owns 9,314 shares of the financial services provider's stock valued at $415,000 after purchasing an additional 319 shares during the last quarter. Finally, Shaker Financial Services LLC lifted its position in Source Capital by 1,227.3% in the 3rd quarter. Shaker Financial Services LLC now owns 60,101 shares of the financial services provider's stock valued at $2,676,000 after purchasing an additional 55,573 shares during the last quarter. 13.15% of the stock is currently owned by institutional investors.
Shares of Source Capital stock traded up $0.13 during trading hours on Friday, reaching $42.51. The company's stock had a trading volume of 10,372 shares, compared to its average volume of 15,227. The company's 50 day simple moving average is $42.88 and its 200 day simple moving average is $43.84. Source Capital has a one year low of $40.83 and a one year high of $47.91.
The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.2083 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.88%.
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.
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