Hennion & Walsh Asset Management Inc. Raises Stake in Source Capital, Inc. (NYSE:SOR)

Hennion & Walsh Asset Management Inc. raised its holdings in Source Capital, Inc. (NYSE:SOR - Free Report) by 23.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,305 shares of the financial services provider's stock after purchasing an additional 6,224 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.39% of Source Capital worth $1,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC grew its stake in shares of Source Capital by 3.4% in the fourth quarter. Lake Street Advisors Group LLC now owns 15,426 shares of the financial services provider's stock valued at $712,000 after buying an additional 511 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Source Capital by 0.8% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 77,073 shares of the financial services provider's stock worth $3,352,000 after purchasing an additional 630 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Source Capital in the first quarter valued at approximately $40,000. Jones Financial Companies Lllp acquired a new position in shares of Source Capital in the fourth quarter valued at approximately $206,000. Finally, D.A. Davidson & CO. increased its stake in Source Capital by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 157,030 shares of the financial services provider's stock worth $6,829,000 after buying an additional 5,342 shares during the period. Hedge funds and other institutional investors own 13.15% of the company's stock.

Source Capital Stock Performance

SOR stock traded up $0.15 during midday trading on Tuesday, hitting $42.80. The company's stock had a trading volume of 15,885 shares, compared to its average volume of 12,683. Source Capital, Inc. has a 52-week low of $38.66 and a 52-week high of $46.34. The firm has a 50-day simple moving average of $41.62 and a 200-day simple moving average of $42.56.

Source Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be paid a dividend of $0.2083 per share. The ex-dividend date is Thursday, August 14th. This represents a $2.50 annualized dividend and a yield of 5.84%.

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.