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

Source Capital, Inc. (NYSE:SOR) declared a monthly dividend on Thursday, January 25th, Wall Street Journal reports. Investors of record on Thursday, April 18th will be paid a dividend of 0.2083 per share by the financial services provider on Tuesday, April 30th. This represents a $2.50 annualized dividend and a dividend yield of 6.01%. The ex-dividend date is Wednesday, April 17th.

Source Capital has increased its dividend payment by an average of 33.6% annually over the last three years and has raised its dividend every year for the last 1 years.

Source Capital Trading Down 0.4 %

NYSE:SOR opened at $41.57 on Monday. Source Capital has a 12 month low of $36.48 and a 12 month high of $42.92. The stock has a 50 day moving average of $41.50 and a two-hundred day moving average of $40.17.

Institutional Investors Weigh In On Source Capital

Several large investors have recently bought and sold shares of SOR. Royal Bank of Canada grew 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 valued at $83,000 after purchasing an additional 386 shares in the last quarter. Belpointe Asset Management LLC grew its position in shares of Source Capital by 83.3% in the first quarter. Belpointe Asset Management LLC now owns 2,535 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 1,152 shares in the last quarter. UBS Group AG grew its position in shares of Source Capital by 52.2% in the fourth quarter. UBS Group AG now owns 4,972 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 1,706 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position 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 in the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of Source Capital in the second quarter valued at approximately $219,000. 13.15% of the stock is currently owned by hedge funds and other institutional investors.

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.