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

Source Capital, Inc. (NYSE:SOR) announced a monthly dividend on Thursday, April 18th, Wall Street Journal reports. Investors of record on Tuesday, July 16th will be paid a dividend of 0.2083 per share by the financial services provider on Wednesday, July 31st. This represents a $2.50 annualized dividend and a yield of 6.06%. The ex-dividend date is Tuesday, July 16th.

Source Capital has increased 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 Trading Up 0.5 %

Shares of NYSE:SOR opened at $41.26 on Friday. The company’s fifty day moving average price is $41.57 and its 200 day moving average price is $40.22. Source Capital has a 12 month low of $36.48 and a 12 month high of $42.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its position in 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 purchasing an additional 386 shares during the last quarter. Belpointe Asset Management LLC grew its position in 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 purchasing an additional 1,152 shares during the last quarter. UBS Group AG grew its position in Source Capital by 52.2% during the 4th quarter. UBS Group AG now owns 4,972 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 1,706 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position 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, LPL Financial LLC purchased a new position in Source Capital during the 2nd quarter worth $219,000. 13.15% of the stock is owned by hedge funds and other institutional investors.

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.