Envestnet Asset Management Inc. Buys 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 stake in shares of Source Capital, Inc. (NYSE:SOR - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 19,896 shares of the financial services provider's stock, valued at approximately $826,000. Envestnet Asset Management Inc. owned about 0.24% of Source Capital at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SOR. Invesco Ltd. grew its stake in shares of Source Capital by 40.6% in the fourth quarter. Invesco Ltd. now owns 24,944 shares of the financial services provider's stock valued at $1,085,000 after buying an additional 7,198 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Source Capital during the 4th quarter worth approximately $2,231,000. Cary Street Partners Financial LLC bought a new position in shares of Source Capital in the 4th quarter worth $242,000. NBC Securities Inc. purchased a new stake in shares of Source Capital during the 1st quarter valued at $40,000. Finally, Hennion & Walsh Asset Management Inc. increased 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 valued at $1,341,000 after purchasing an additional 6,224 shares during the last quarter. Institutional investors and hedge funds own 13.15% of the company's stock.

Source Capital Price Performance

NYSE SOR traded down $0.09 during trading hours on Thursday, hitting $43.77. The company's stock had a trading volume of 2,294 shares, compared to its average volume of 12,885. Source Capital, Inc. has a 12 month low of $38.66 and a 12 month high of $46.34. The company's 50 day simple moving average is $43.33 and its two-hundred day simple moving average is $42.35.

Source Capital Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th were given a dividend of $0.2083 per share. The ex-dividend date was Wednesday, July 16th. This represents a dividend yield of 568.0%.

Source Capital Company Profile

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.