Source Capital, Inc. (NYSE:SOR – Get Free Report) announced a monthly dividend on Wednesday, December 13th, Wall Street Journal reports. Shareholders of record on Friday, February 16th will be given a dividend of 0.2083 per share by the financial services provider on Thursday, February 29th. This represents a $2.50 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Thursday, February 15th.
Source Capital has increased its dividend by an average of 30.5% annually over the last three years and has raised its dividend every year for the last 1 years.
Source Capital Stock Performance
Shares of SOR stock traded down $0.07 on Wednesday, reaching $40.23. The stock had a trading volume of 3,886 shares, compared to its average volume of 14,133. The company has a 50 day simple moving average of $39.06 and a 200 day simple moving average of $38.77. Source Capital has a 1 year low of $35.10 and a 1 year high of $40.74.
Hedge Funds Weigh In On Source Capital
Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its position in Source Capital by 6.6% in the third quarter. Envestnet Asset Management Inc. now owns 23,623 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 1,470 shares during the period. Wells Fargo & Company MN raised its holdings in Source Capital by 4.0% in the 2nd quarter. Wells Fargo & Company MN now owns 63,741 shares of the financial services provider’s stock worth $2,443,000 after purchasing an additional 2,457 shares during the period. Commonwealth Equity Services LLC lifted its position in Source Capital by 7.9% during the second quarter. Commonwealth Equity Services LLC now owns 17,848 shares of the financial services provider’s stock valued at $684,000 after purchasing an additional 1,302 shares in the last quarter. Susquehanna International Group LLP bought a new stake in Source Capital during the first quarter valued at about $255,000. Finally, Belpointe Asset Management LLC increased its position in Source Capital by 83.3% in the first quarter. Belpointe Asset Management LLC now owns 2,535 shares of the financial services provider’s stock worth $96,000 after buying an additional 1,152 shares in the last quarter. Hedge funds and other institutional investors own 12.08% of the company’s stock.
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.