Source Capital, Inc. (SOR) to Issue Monthly Dividend of $0.21 on August 30th

Source Capital, Inc. (NYSE:SOR) declared a monthly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.2083 per share by the financial services provider on Friday, August 30th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date of this dividend 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 Up 0.8 %

Shares of SOR stock opened at $41.60 on Friday. Source Capital has a 52-week low of $36.48 and a 52-week high of $42.92. The firm’s 50-day moving average is $41.58 and its 200-day moving average is $40.24.

Hedge Funds Weigh In On Source Capital

A number of institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its stake 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 acquiring an additional 1,470 shares during the period. Wells Fargo & Company MN boosted its position in Source Capital by 4.0% during the second quarter. Wells Fargo & Company MN now owns 63,741 shares of the financial services provider’s stock worth $2,443,000 after purchasing an additional 2,457 shares during the period. Commonwealth Equity Services LLC boosted its position in Source Capital by 7.9% during the second 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 period. Susquehanna International Group LLP acquired a new position in shares of Source Capital in the first quarter valued at $255,000. Finally, Belpointe Asset Management LLC raised 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 during the period. Institutional investors and hedge funds own 13.15% of the company’s stock.

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.