Source Capital (NYSE:SOR) Shares Pass Below Fifty Day Moving Average – Time to Sell?

Source Capital, Inc. (NYSE:SOR)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $45.84 and traded as low as $45.13. Source Capital shares last traded at $45.35, with a volume of 11,147 shares.

Source Capital Price Performance

The business has a 50 day moving average price of $45.84 and a 200 day moving average price of $46.80.

Source Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be given a dividend of $0.2083 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 5.5%.

Institutional Investors Weigh In On Source Capital

A number of institutional investors have recently added to or reduced their stakes in SOR. First Trust Advisors LP grew its position in Source Capital by 2.0% during the second quarter. First Trust Advisors LP now owns 69,152 shares of the financial services provider’s stock worth $2,999,000 after buying an additional 1,353 shares in the last quarter. Raymond James Financial Inc. grew its position in Source Capital by 4.9% during the second quarter. Raymond James Financial Inc. now owns 46,000 shares of the financial services provider’s stock worth $1,995,000 after buying an additional 2,165 shares in the last quarter. Osaic Holdings Inc. grew its position in Source Capital by 120.1% during the second quarter. Osaic Holdings Inc. now owns 11,811 shares of the financial services provider’s stock worth $512,000 after buying an additional 6,445 shares in the last quarter. Assetmark Inc. grew its position in Source Capital by 56.0% during the third quarter. Assetmark Inc. now owns 3,093 shares of the financial services provider’s stock worth $139,000 after buying an additional 1,110 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Source Capital by 30.9% during the third quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock worth $78,000 after buying an additional 407 shares in the last quarter. 13.15% of the stock is owned by institutional investors and hedge funds.

About Source Capital

Source Capital Inc is an externally managed specialty finance company that provides flexible financing solutions to U.S. middle-market companies. Structured as a closed-end investment company, it focuses on investing in both debt and equity securities of businesses seeking growth capital, refinancing, acquisitions, recapitalizations and other strategic initiatives.

The company’s investment strategy encompasses senior secured loans, unitranche facilities, second-lien financings, mezzanine debt and equity co-investments.