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Highlights
- Short interest in Source Capital drops by 50% in December.
- Source Capital raises dividend by 5.9%, enhancing shareholder returns.
- Stock performance remains stable with a significant dividend increase.
Source Capital Closed Fund has recently seen a notable reduction in short interest, signaling potential positive momentum. This closed-end fund, which primarily invests in value stocks, also increased its dividend by 5.9%, providing additional benefits to shareholders. As part of the broader trend in NYSE Financial Stocks, Source Capital’s performance and dividend growth remain areas of interest for investors.
Source Capital (NYSE:SOR) Short Interest Drops, Stock Performance Stable
Source Capital, Inc. a close-ended balanced fund, experienced a significant reduction in short interest during December 2024. The short interest dropped by 50%, from 3,200 shares on December 15th to 1,600 shares on December 31st. This reduction is a positive sign for the company's stock performance, suggesting confidence among traders. The days-to-cover ratio currently stands at 0.1 days, based on an average daily trading volume of 11,800 shares.
Source Capital's Stock Performance
Shares of Source Capital opened at $43.04 on January 9th. The stock has maintained a relatively stable performance with a 50-day moving average of $44.57 and a 200-day moving average of $44.14. Over the past 12 months, the stock has fluctuated between a low of $39.36 and a high of $47.91. These figures indicate a steady performance, though investors will want to monitor any fluctuations in the short term.
Dividend Hike Reflects Confidence in Growth
In addition to the positive movement in short interest, Source Capital raised its dividend, announcing a 5.9% increase from the previous dividend of $2.59 per share. The new dividend of $2.6584 per share was paid on January 9th to investors of record as of December 30th. This increase is a signal of the company's continued growth and its commitment to rewarding shareholders, making it a potentially attractive option for income-focused investors.
Source Capital Dividend Hike Reflects Confidence in Growth
Source Capital, Inc. is a closed-end balanced fund managed by First Pacific Advisors, LLC. The fund primarily focuses on investing in value stocks within the small to mid-cap market sectors in the United States. With a diversified portfolio across multiple sectors, the fund aims to provide capital appreciation and income to shareholders through both equity investments and dividends.
Source Capital’s reduction in short interest and increase in dividends indicate positive signs for the company. With stable stock performance and a growing dividend, Source Capital continues to demonstrate its potential as a balanced investment vehicle. As the market continues to evolve, stakeholders will likely keep a close eye on its performance in the coming months.
