Raymond James Financial Inc. Invests $2.23 Million in Source Capital, Inc. (NYSE:SOR)

Raymond James Financial Inc. acquired a new stake in Source Capital, Inc. (NYSE:SOR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,306 shares of the financial services provider’s stock, valued at approximately $2,231,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Park Avenue Securities LLC grew its position in shares of Source Capital by 6.7% in the 4th quarter. Park Avenue Securities LLC now owns 17,416 shares of the financial services provider’s stock valued at $757,000 after buying an additional 1,092 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Source Capital by 77.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 26,081 shares of the financial services provider’s stock worth $1,134,000 after acquiring an additional 11,392 shares during the period. D.A. Davidson & CO. boosted its holdings in Source Capital by 3.5% in the fourth quarter. D.A. Davidson & CO. now owns 157,030 shares of the financial services provider’s stock valued at $6,829,000 after acquiring an additional 5,342 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Source Capital in the fourth quarter valued at approximately $712,000. Finally, Lake Street Advisors Group LLC increased its position in Source Capital by 3.4% during 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 purchasing an additional 511 shares during the period. 13.15% of the stock is currently owned by institutional investors and hedge funds.

Source Capital Stock Performance

Shares of NYSE SOR opened at $41.23 on Thursday. The company’s 50 day moving average price is $41.36 and its 200-day moving average price is $42.97. Source Capital, Inc. has a 52-week low of $38.66 and a 52-week high of $47.91.

Source Capital Cuts Dividend

The company also recently announced a — dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be paid a dividend of $0.2083 per share. This represents a yield of 6%. The ex-dividend date of this dividend is Thursday, May 15th.

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.