Source Capital (NYSE:SOR) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

Shares of Source Capital, Inc. (NYSE:SOR) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $45.68 and traded as high as $46.97. Source Capital shares last traded at $46.5750, with a volume of 14,958 shares trading hands.

Source Capital Price Performance

The firm’s fifty day moving average price is $45.68 and its 200 day moving average price is $46.40.

Source Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 13th will be given a dividend of $0.2083 per share. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Friday, November 13th.

Hedge Funds Weigh In On Source Capital

Several hedge funds have recently made changes to their positions in SOR. WHI TRUST Co LLC purchased a new position in shares of Source Capital in the fourth quarter worth about $42,000. PNC Financial Services Group Inc. boosted its position in Source Capital by 1,900.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the financial services provider’s stock valued at $46,000 after buying an additional 950 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in Source Capital in the fourth quarter valued at approximately $68,000. JPMorgan Chase & Co. increased its holdings in Source Capital by 30.9% in the 3rd 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 during the period. Finally, Kestra Advisory Services LLC acquired a new position in Source Capital in the 4th quarter worth approximately $85,000. 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.