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

Source Capital, Inc. (NYSE:SOR) declared a monthly dividend on Thursday, April 18th, Wall Street Journal reports. Shareholders 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 yield of 6.06%. The ex-dividend date of this dividend is Tuesday, July 16th.

Source Capital has raised its dividend 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 Stock Performance

SOR traded up $0.20 during trading on Thursday, reaching $41.26. The company had a trading volume of 6,782 shares, compared to its average volume of 14,422. The business’s fifty day moving average price is $41.55 and its 200 day moving average price is $40.21. Source Capital has a 12 month low of $36.48 and a 12 month high of $42.92.

Institutional Trading of Source Capital

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in shares of Source Capital by 19.5% in the third 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 in the last quarter. Belpointe Asset Management LLC raised its position in Source Capital by 83.3% during the first quarter. Belpointe Asset Management LLC now owns 2,535 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 1,152 shares in the last quarter. UBS Group AG raised its position in Source Capital by 52.2% during the fourth quarter. UBS Group AG now owns 4,972 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 1,706 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Source Capital by 26.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,065 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 1,050 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in shares of Source Capital in the second quarter valued at $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.