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

Source Capital, Inc. (NYSE:SOR) declared a monthly dividend on Friday, April 19th, Wall Street Journal reports. Investors of record on Thursday, August 15th will be given a dividend of 0.2083 per share by the financial services provider on Friday, August 30th. This represents a $2.50 annualized dividend and a yield of 6.01%. The ex-dividend date is Thursday, August 15th.

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

Shares of SOR stock opened at $41.60 on Friday. Source Capital has a fifty-two week low of $36.48 and a fifty-two week high of $42.92. The stock’s fifty day moving average is $41.58 and its two-hundred day moving average is $40.24.

Hedge Funds Weigh In On Source Capital

Several hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its holdings in shares of Source Capital by 6.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 23,623 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 1,470 shares during the last quarter. Wells Fargo & Company MN grew its position in Source Capital by 4.0% in the second quarter. Wells Fargo & Company MN now owns 63,741 shares of the financial services provider’s stock worth $2,443,000 after acquiring an additional 2,457 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Source Capital by 7.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 17,848 shares of the financial services provider’s stock worth $684,000 after purchasing an additional 1,302 shares during the last quarter. Susquehanna International Group LLP acquired a new position in Source Capital during the first quarter worth $255,000. Finally, Belpointe Asset Management LLC boosted its holdings in Source Capital by 83.3% during the 1st quarter. Belpointe Asset Management LLC now owns 2,535 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 1,152 shares during the period. 13.15% of the stock is owned by hedge funds and other institutional investors.

About Source Capital

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.