Source Capital (NYSE:SOR) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Shares of Source Capital, Inc. (NYSE:SOR) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $46.31 and traded as low as $46.22. Source Capital shares last traded at $46.4710, with a volume of 11,744 shares.

Source Capital Stock Performance

The firm’s fifty day simple moving average is $46.31 and its 200 day simple moving average is $46.85.

Source Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.2083 per share. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date is Thursday, August 13th.

Institutional Trading of Source Capital

Several hedge funds have recently bought and sold shares of SOR. Align Financial LLC acquired a new stake in Source Capital during the 4th quarter worth approximately $7,006,000. Diversified Management Inc. acquired a new stake in Source Capital during the 4th quarter worth approximately $5,344,000. Evolve Private Wealth LLC acquired a new stake in Source Capital during the 4th quarter worth approximately $522,000. Shaker Financial Services LLC raised its holdings in Source Capital by 108.9% during the 4th quarter. Shaker Financial Services LLC now owns 19,324 shares of the financial services provider’s stock worth $884,000 after buying an additional 10,073 shares during the period. Finally, Capital Investment Counsel Inc acquired a new stake in Source Capital during the 3rd quarter worth approximately $451,000. 13.15% of the stock is currently 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.