Source Capital, Inc. $SOR Stock Sold by Shaker Financial Services LLC

Key Points

• Shaker Financial Services reduced its Source Capital stake by 18.3% in the third quarter, selling 28,132 shares and retaining 125,834 shares valued at approximately $5.7 million.
• Other institutional investors mostly increased their holdings, while institutions collectively owned 13.15% of Source Capital.
• Source Capital shares fell 0.6% to $45.08, while the company declared a monthly $0.2083 dividend, equivalent to $2.50 annually and a 5.5% yield.

Shaker Financial Services LLC cut its stake in Source Capital, Inc. (NYSE:SOR - Free Report) by 18.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,834 shares of the financial services provider's stock after selling 28,132 shares during the quarter. Source Capital comprises about 1.9% of Shaker Financial Services LLC's portfolio, making the stock its 10th biggest position. Shaker Financial Services LLC owned approximately 1.53% of Source Capital worth $5,717,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Smith Asset Management Co. LLC grew its stake in Source Capital by 0.8% in the fourth quarter. Smith Asset Management Co. LLC now owns 28,345 shares of the financial services provider's stock valued at $1,297,000 after purchasing an additional 233 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Source Capital by 4.5% during the first quarter. Cetera Investment Advisers now owns 5,478 shares of the financial services provider's stock valued at $254,000 after buying an additional 235 shares during the last quarter. Assetmark Inc. lifted its position in Source Capital by 15.9% during the first quarter. Assetmark Inc. now owns 3,586 shares of the financial services provider's stock valued at $166,000 after acquiring an additional 493 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of Source Capital by 1.6% during the fourth quarter. Anchor Investment Management LLC now owns 31,885 shares of the financial services provider's stock worth $1,459,000 after purchasing an additional 511 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Source Capital by 8.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,338 shares of the financial services provider's stock valued at $340,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 13.15% of the company's stock.

Source Capital Stock Down 0.6%

Shares of Source Capital stock traded down $0.26 during trading on Wednesday, reaching $45.08. The company's stock had a trading volume of 2,410 shares, compared to its average volume of 11,923. Source Capital, Inc. has a 1-year low of $44.20 and a 1-year high of $50.41. The company has a 50-day simple moving average of $46.09 and a two-hundred day simple moving average of $45.87.

Source Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be issued a $0.2083 dividend. This represents a $2.50 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Friday, November 13th.

Source Capital Company Profile

Source Capital, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol SOR. The company seeks long-term growth of capital and current income by investing in a diversified portfolio of securities.

Its portfolio may include common and preferred stocks, convertible securities, and other investments in public and private companies. Source Capital has historically focused on identifying businesses with potential for capital appreciation while also pursuing income through dividends and interest.

The fund is managed as an investment portfolio rather than operating a conventional commercial business, and its investment exposure can span companies and industries in the United States and other markets.

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