Source Capital (NYSE:SOR) Share Price Breaks Below Two Hundred Day Moving Average – Time to Sell?

Source Capital, Inc. (NYSE:SOR) passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $46.28 and traded as low as $45.92. Source Capital shares last traded at $45.88, with a volume of 9,588 shares trading hands.

Source Capital Price Performance

The business’s 50-day moving average is $45.78 and its 200 day moving average is $46.28.

Source Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 26th. Investors of record on Friday, February 12th will be issued a dividend of $0.23 per share. This represents a $2.76 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Friday, February 12th.

Hedge Funds Weigh In On Source Capital

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of Source Capital by 1,900.0% during 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 acquiring an additional 950 shares in the last quarter. Assetmark Inc. lifted its stake in Source Capital by 15.9% in the first quarter. Assetmark Inc. now owns 3,586 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 493 shares during the period. Cetera Investment Advisers boosted its holdings in Source Capital by 4.5% in the first quarter. Cetera Investment Advisers now owns 5,478 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 235 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Source Capital by 8.9% in the first quarter. Janney Montgomery Scott LLC now owns 7,338 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 600 shares in the last quarter. Finally, Readystate Asset Management LP bought a new stake in Source Capital in the second quarter valued at $565,000. 13.15% of the stock is owned by hedge funds and other institutional investors.

Source Capital Company Profile

Source Capital, Inc (NYSE: SOR) is a publicly traded closed-end investment company. The fund’s primary objective is to provide long-term growth of capital and income by investing in a portfolio of securities selected by its investment adviser.

Source Capital invests principally in publicly traded common stocks and other equity securities, with a value-oriented approach that emphasizes companies the adviser believes are attractively priced relative to their underlying business prospects.