Smith Asset Management Co. LLC Takes Position in Source Capital, Inc. $SOR

Key Points

• Smith Asset Management Co. LLC has acquired a new stake in Source Capital, purchasing 27,291 shares valued at approximately $1.13 million.
• Source Capital recently declared a monthly dividend of $0.2083, with a yield of 5.6%, payable on October 31st.
• Institutional investors collectively own 13.15% of Source Capital's stock, with several firms adjusting their positions during the first quarter.

Smith Asset Management Co. LLC purchased a new stake in Source Capital, Inc. (NYSE:SOR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 27,291 shares of the financial services provider's stock, valued at approximately $1,133,000. Smith Asset Management Co. LLC owned about 0.33% of Source Capital at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. grew its position in shares of Source Capital by 0.6% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 77,535 shares of the financial services provider's stock valued at $3,218,000 after buying an additional 462 shares during the last quarter. Invesco Ltd. grew its position in shares of Source Capital by 3.1% in the 1st quarter. Invesco Ltd. now owns 25,729 shares of the financial services provider's stock valued at $1,068,000 after buying an additional 785 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Source Capital in the 1st quarter valued at about $40,000. Cornerstone Advisors LLC bought a new stake in shares of Source Capital in the 1st quarter valued at about $120,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of Source Capital by 23.9% in 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 buying an additional 6,224 shares during the last quarter. Institutional investors own 13.15% of the company's stock.

Source Capital Trading Up 0.3%

NYSE SOR opened at $44.88 on Tuesday. The business's 50-day moving average price is $44.00 and its two-hundred day moving average price is $42.62. Source Capital, Inc. has a 12 month low of $38.66 and a 12 month high of $46.34.

Source Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 16th will be given a $0.2083 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Thursday, October 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.

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