Raymond James Financial Inc. Takes Position in Source Capital, Inc. (NYSE:SOR)

Raymond James Financial Inc. acquired a new position in Source Capital, Inc. (NYSE:SOR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 51,306 shares of the financial services provider's stock, valued at approximately $2,231,000. Raymond James Financial Inc. owned about 0.63% of Source Capital as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new position in shares of Source Capital during the fourth quarter worth $206,000. Congress Wealth Management LLC DE purchased a new position in Source Capital during the 4th quarter valued at about $357,000. Lake Street Advisors Group LLC grew its position in Source Capital by 3.4% in the 4th quarter. Lake Street Advisors Group LLC now owns 15,426 shares of the financial services provider's stock valued at $712,000 after acquiring an additional 511 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in Source Capital in the 4th quarter valued at about $712,000. Finally, Park Avenue Securities LLC increased its stake in Source Capital by 6.7% during the fourth quarter. Park Avenue Securities LLC now owns 17,416 shares of the financial services provider's stock worth $757,000 after purchasing an additional 1,092 shares during the period. Hedge funds and other institutional investors own 13.15% of the company's stock.

Source Capital Trading Up 0.9 %

Shares of NYSE SOR traded up $0.37 during midday trading on Friday, hitting $41.95. The company's stock had a trading volume of 1,620 shares, compared to its average volume of 12,874. Source Capital, Inc. has a 1 year low of $38.66 and a 1 year high of $47.91. The business's fifty day simple moving average is $41.33 and its two-hundred day simple moving average is $42.93.

Source Capital Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a $0.2083 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a dividend yield of 6%.

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.