Source Capital, Inc. (NYSE:SOR) Declares Monthly Dividend of $0.21

Key Points

• Source Capital declared a monthly dividend of $0.2083 per share, payable December 30 to shareholders of record December 16. The annualized payout is approximately $2.50 per share, representing a 5.5% yield.
• SOR shares rose 0.8% to $45.77, trading within a 52-week range of $44.20 to $50.41 and near its 50- and 200-day moving averages.
• Institutional investors own 13.15% of Source Capital, with several firms—including DKM Wealth Management and Diversified Management—recently increasing their holdings.

Source Capital, Inc. (NYSE:SOR - Get Free Report) announced a monthly dividend on Sunday, October 18th. Investors of record on Wednesday, December 16th will be given a dividend of $0.2083 per share by the financial services provider on Wednesday, December 30th. This represents a $2.50 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Wednesday, December 16th.

Source Capital Stock Up 0.8%

Shares of SOR stock traded up $0.36 during trading hours on Monday, hitting $45.77. 4,445 shares of the company were exchanged, compared to its average volume of 7,426. The business has a 50 day moving average of $46.01 and a two-hundred day moving average of $45.88. Source Capital has a 52 week low of $44.20 and a 52 week high of $50.41.

Institutional Trading of Source Capital

Several institutional investors and hedge funds have recently bought and sold shares of SOR. DKM Wealth Management Inc. lifted its holdings in shares of Source Capital by 1.8% during the 3rd quarter. DKM Wealth Management Inc. now owns 318,676 shares of the financial services provider's stock worth $14,477,000 after acquiring an additional 5,580 shares during the period. Diversified Management Inc. increased its stake in Source Capital by 0.7% in the third quarter. Diversified Management Inc. now owns 122,077 shares of the financial services provider's stock valued at $5,546,000 after acquiring an additional 792 shares during the last quarter. Readystate Asset Management LP acquired a new position in Source Capital during the second quarter valued at approximately $565,000. Cetera Investment Advisers raised its position in Source Capital by 4.5% during the first quarter. Cetera Investment Advisers now owns 5,478 shares of the financial services provider's stock valued at $254,000 after purchasing an additional 235 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Source Capital by 4.4% during the first quarter. First Trust Advisors LP now owns 74,530 shares of the financial services provider's stock valued at $3,452,000 after purchasing an additional 3,113 shares in the last quarter. Institutional investors own 13.15% of the company's stock.

Source Capital Company Profile

Source Capital, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol SOR. The company seeks long-term growth of capital and current income by investing in a diversified portfolio of securities.

Its portfolio may include common and preferred stocks, convertible securities, and other investments in public and private companies. Source Capital has historically focused on identifying businesses with potential for capital appreciation while also pursuing income through dividends and interest.

The fund is managed as an investment portfolio rather than operating a conventional commercial business, and its investment exposure can span companies and industries in the United States and other markets.

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