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

Source Capital, Inc. (NYSE:SOR) declared a monthly dividend on Tuesday, January 20th. Investors of record on Thursday, May 14th will be given a dividend of 0.2083 per share by the financial services provider on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Thursday, May 14th.

Source Capital Trading Up 1.3%

SOR traded up $0.62 during trading on Wednesday, hitting $47.64. 1,252 shares of the stock were exchanged, compared to its average volume of 13,472. Source Capital has a 1-year low of $38.66 and a 1-year high of $50.41. The stock has a fifty day moving average price of $47.09 and a two-hundred day moving average price of $45.53.

Institutional Trading of Source Capital

Several institutional investors and hedge funds have recently bought and sold shares of SOR. DKM Wealth Management Inc. boosted its stake in Source Capital by 2.0% during the 2nd quarter. DKM Wealth Management Inc. now owns 281,443 shares of the financial services provider’s stock worth $12,204,000 after purchasing an additional 5,533 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Source Capital by 0.6% in the second quarter. D.A. Davidson & CO. now owns 172,148 shares of the financial services provider’s stock valued at $7,465,000 after buying an additional 1,042 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Source Capital by 258.6% during the second quarter. Assetmark Inc. now owns 1,983 shares of the financial services provider’s stock worth $86,000 after buying an additional 1,430 shares during the period. Wolverine Asset Management LLC purchased a new position in shares of Source Capital during the second quarter worth about $576,000. Finally, Shaker Financial Services LLC grew its holdings in shares of Source Capital by 128.9% during the second quarter. Shaker Financial Services LLC now owns 60,873 shares of the financial services provider’s stock worth $2,640,000 after buying an additional 34,282 shares during the last quarter. Hedge funds and other institutional investors own 13.15% of the company’s stock.

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.