Source Capital (NYSE:SOR) Stock Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Source Capital shares briefly fell below their 200-day moving average of $46.16, reaching $45.75 before last trading at $46.4750 on relatively light volume.
• The company declared a monthly dividend of $0.2083 per share, implying an annualized yield of approximately 5.4%; the ex-dividend date is November 13.
• Institutional investors increased their positions in Source Capital, with hedge funds and other institutions collectively owning 13.15% of the stock.

Source Capital, Inc. (NYSE:SOR - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $46.16 and traded as low as $45.75. Source Capital shares last traded at $46.4750, with a volume of 2,058 shares trading hands.

Source Capital Stock Up 0.0%

The company has a 50 day moving average of $46.25 and a two-hundred day moving average of $46.16.

Source Capital Announces Dividend

The firm also recently disclosed 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 c) annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Friday, November 13th.

Institutional Trading of Source Capital

A number of institutional investors and hedge funds have recently made changes to their positions in SOR. Smith Asset Management Co. LLC boosted its stake in Source Capital by 0.8% during the 4th quarter. Smith Asset Management Co. LLC now owns 28,345 shares of the financial services provider's stock worth $1,297,000 after purchasing an additional 233 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Source Capital by 4.5% in 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. NewEdge Advisors LLC raised its position in shares of Source Capital by 4.3% in the third quarter. NewEdge Advisors LLC now owns 7,334 shares of the financial services provider's stock valued at $330,000 after buying an additional 300 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Source Capital by 30.9% in the third quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider's stock valued at $78,000 after buying an additional 407 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Source Capital by 15.9% in the first quarter. Assetmark Inc. now owns 3,586 shares of the financial services provider's stock worth $166,000 after buying an additional 493 shares in the last quarter. 13.15% of the stock is currently owned by hedge funds and other institutional investors.

Source Capital Company 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.

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