Envestnet Asset Management Inc. Purchases Shares of 19,896 Source Capital, Inc. (NYSE:SOR)

Key Points

• Envestnet Asset Management Inc. has acquired 19,896 shares of Source Capital, Inc. (NYSE:SOR), valued at approximately $826,000, during the first quarter.
• Source Capital has a recent stock price of $43.61, with a twelve-month high of $46.34 and a low of $38.66.
• The company recently announced a dividend of $0.2083 per share, giving it a remarkable dividend yield of 568.0%.

Envestnet Asset Management Inc. bought a new position in shares of Source Capital, Inc. (NYSE:SOR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,896 shares of the financial services provider's stock, valued at approximately $826,000. Envestnet Asset Management Inc. owned 0.24% of Source Capital at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SOR. D.A. Davidson & CO. boosted its stake in Source Capital by 9.0% during the first quarter. D.A. Davidson & CO. now owns 171,106 shares of the financial services provider's stock worth $7,102,000 after acquiring an additional 14,076 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Source Capital during the fourth quarter valued at about $2,231,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Source Capital by 23.9% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 32,305 shares of the financial services provider's stock worth $1,341,000 after purchasing an additional 6,224 shares in the last quarter. Invesco Ltd. boosted its position in shares of Source Capital by 40.6% during the 4th quarter. Invesco Ltd. now owns 24,944 shares of the financial services provider's stock worth $1,085,000 after purchasing an additional 7,198 shares in the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Source Capital in the 4th quarter valued at about $242,000. 13.15% of the stock is owned by institutional investors.

Source Capital Trading Down 0.2%

Shares of NYSE SOR traded down $0.09 during midday trading on Tuesday, hitting $43.81. 7,083 shares of the stock traded hands, compared to its average volume of 11,735. The business has a 50 day moving average price of $43.27 and a two-hundred day moving average price of $42.33. Source Capital, Inc. has a one year low of $38.66 and a one year high of $46.34.

Source Capital Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th were given a $0.2083 dividend. This represents a yield of 568.0%. The ex-dividend date of this dividend was Wednesday, July 16th.

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.