Short Interest in Source Capital, Inc. (NYSE:SOR) Declines By 31.3%

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. DKM Wealth Management Inc. acquired a new stake in shares of Source Capital in the fourth quarter valued at approximately $11,931,000. D.A. Davidson & CO. raised its holdings in Source Capital by 3.5% in the 4th quarter. D.A. Davidson & CO. now owns 157,030 shares of the financial services provider’s stock valued at $6,829,000 after acquiring an additional 5,342 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Source Capital by 0.8% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 77,073 shares of the financial services provider’s stock valued at $3,352,000 after acquiring an additional 630 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Source Capital during the 4th quarter worth $2,231,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Source Capital by 77.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 26,081 shares of the financial services provider’s stock worth $1,134,000 after purchasing an additional 11,392 shares during the period. Institutional investors and hedge funds own 13.15% of the company’s stock.

Source Capital Stock Down 0.1 %

Source Capital stock traded down $0.04 during trading hours on Monday, hitting $41.53. The company had a trading volume of 8,655 shares, compared to its average volume of 12,278. The firm has a 50-day moving average of $42.19 and a 200 day moving average of $43.52. Source Capital has a one year low of $41.00 and a one year high of $47.91.

Source Capital Cuts Dividend

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