Source Capital, Inc. Declares Monthly Dividend of $0.21 (NYSE:SOR)

Source Capital, Inc. (NYSE:SOR) announced a monthly dividend on Friday, April 19th, Wall Street Journal reports. Investors of record on Tuesday, July 16th will be given a dividend of 0.2083 per share by the financial services provider on Wednesday, July 31st. This represents a $2.50 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date is Tuesday, July 16th.

Source Capital has raised its dividend payment by an average of 33.6% annually over the last three years and has raised its dividend every year for the last 1 years.

Source Capital Stock Up 0.5 %

SOR stock opened at $41.26 on Friday. Source Capital has a 1 year low of $36.48 and a 1 year high of $42.92. The stock’s 50 day moving average price is $41.57 and its 200 day moving average price is $40.22.

Institutional Investors Weigh In On Source Capital

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. raised its holdings 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 acquiring an additional 274 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Source Capital by 19.5% during the 3rd quarter. Royal Bank of Canada now owns 2,363 shares of the financial services provider’s stock worth $83,000 after buying an additional 386 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Source Capital by 2.2% during the 1st quarter. Raymond James & Associates now owns 40,877 shares of the financial services provider’s stock worth $1,717,000 after buying an additional 885 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of 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 buying an additional 1,050 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its holdings in shares of Source Capital by 83.3% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 13.15% of the company’s stock.

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.