Source Capital, Inc. (NYSE:SOR - Get Free Report) announced a monthly dividend on Friday, April 19th, Wall Street Journal reports. Investors of record on Thursday, August 15th will be paid a dividend of 0.2083 per share by the financial services provider on Friday, August 30th. This represents a $2.50 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date is Thursday, August 15th.
Source Capital has increased its dividend payment by an average of 33.6% per year over the last three years and has raised its dividend every year for the last 1 years.
Source Capital Price Performance
Shares of SOR stock traded up $0.34 during trading hours on Friday, reaching $41.60. The company had a trading volume of 4,938 shares, compared to its average volume of 14,297. Source Capital has a twelve month low of $36.48 and a twelve month high of $42.92. The stock's fifty day simple moving average is $41.58 and its 200 day simple moving average is $40.24.
Hedge Funds Weigh In On Source Capital
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its position in Source Capital by 2.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,375 shares of the financial services provider's stock valued at $478,000 after buying an additional 274 shares during the last quarter. Royal Bank of Canada boosted its holdings in Source Capital by 19.5% in the third quarter. Royal Bank of Canada now owns 2,363 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 386 shares during the last quarter. Raymond James & Associates grew its stake in Source Capital by 2.2% during the 1st quarter. Raymond James & Associates now owns 40,877 shares of the financial services provider's stock valued at $1,717,000 after purchasing an additional 885 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Source Capital by 26.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,065 shares of the financial services provider's stock worth $196,000 after purchasing an additional 1,050 shares during the last quarter. Finally, Belpointe Asset Management LLC raised its position in shares of Source Capital by 83.3% in the 1st quarter. Belpointe Asset Management LLC now owns 2,535 shares of the financial services provider's stock valued at $96,000 after purchasing an additional 1,152 shares in the last quarter. Hedge funds and other institutional investors own 13.15% of the company's stock.
Source Capital Company Profile
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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.
Further Reading
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