Diversified Management Inc. Purchases Shares of 116,794 Source Capital, Inc. $SOR

Key Points

• Diversified Management Inc. purchased 116,794 shares of Source Capital (NYSE:SOR) in Q4, paying about $5.34 million and making the stock its 19th-largest holding.
• Source Capital declared a monthly dividend of $0.2083 per share payable May 29 (record/ex-dividend date May 14), implying an annualized yield of about 5.4%.
• Source Capital is an externally managed closed-end specialty finance firm that provides debt and equity financing to U.S. middle‑market companies; institutional investors own roughly 13.15% of the stock and it trades near $46.50 (12‑month range $39.55–$50.41).

Diversified Management Inc. purchased a new stake in Source Capital, Inc. (NYSE:SOR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 116,794 shares of the financial services provider's stock, valued at approximately $5,344,000. Source Capital accounts for about 1.2% of Diversified Management Inc.'s holdings, making the stock its 19th biggest position. Diversified Management Inc. owned 1.42% of Source Capital as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new stake in shares of Source Capital in the 3rd quarter valued at $60,000. JPMorgan Chase & Co. boosted its stake in shares of Source Capital by 30.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 407 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Source Capital by 56.0% in the 3rd quarter. Assetmark Inc. now owns 3,093 shares of the financial services provider's stock valued at $139,000 after purchasing an additional 1,110 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Source Capital in the 3rd quarter valued at $218,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Source Capital during the 3rd quarter worth about $221,000. Institutional investors own 13.15% of the company's stock.

Source Capital Trading Down 0.1%

Shares of NYSE SOR opened at $46.50 on Thursday. The firm's 50-day simple moving average is $46.88 and its 200 day simple moving average is $46.75. Source Capital, Inc. has a 12-month low of $39.55 and a 12-month high of $50.41.

Source Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 14th will be given a dividend of $0.2083 per share. The ex-dividend date is Thursday, May 14th. This represents a c) annualized dividend and a yield of 5.4%.

Source Capital Profile

Source Capital Inc is an externally managed specialty finance company that provides flexible financing solutions to U.S. middle-market companies. Structured as a closed-end investment company, it focuses on investing in both debt and equity securities of businesses seeking growth capital, refinancing, acquisitions, recapitalizations and other strategic initiatives.

The company's investment strategy encompasses senior secured loans, unitranche facilities, second-lien financings, mezzanine debt and equity co-investments.

Want to see what other hedge funds are holding SOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Source Capital, Inc. (NYSE:SOR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.