Source Capital, Inc. (SOR) to Issue Monthly Dividend of $0.21 on July 31st

Source Capital, Inc. (NYSE:SOR) announced a monthly dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.01%. 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 increased its dividend every year for the last 1 years.

Source Capital Trading Up 0.8 %

Shares of SOR opened at $41.60 on Friday. The stock has a 50-day moving average price of $41.58 and a 200-day moving average price of $40.24. Source Capital has a 12-month low of $36.48 and a 12-month high of $42.92.

Institutional Trading of Source Capital

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in Source Capital by 19.5% in 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. Belpointe Asset Management LLC lifted its position in Source Capital by 83.3% in 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. UBS Group AG lifted its position in Source Capital by 52.2% in the 4th quarter. UBS Group AG now owns 4,972 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,706 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Source Capital by 26.2% in 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, LPL Financial LLC bought a new stake in Source Capital in the 2nd quarter worth approximately $219,000. 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.