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

Source Capital, Inc. (NYSE:SOR) declared a monthly dividend on Tuesday, January 20th. Investors of record on Wednesday, April 15th will be paid a dividend of 0.2083 per share by the financial services provider on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Wednesday, April 15th.

Source Capital Price Performance

SOR traded down $0.62 during trading hours on Wednesday, hitting $47.17. 1,185 shares of the company’s stock were exchanged, compared to its average volume of 14,492. Source Capital has a 12-month low of $38.66 and a 12-month high of $50.41. The firm has a 50 day moving average of $47.09 and a 200 day moving average of $45.53.

Institutional Investors Weigh In On Source Capital

Several large investors have recently bought and sold shares of SOR. Sound Income Strategies LLC acquired a new stake in Source Capital in the third quarter valued at approximately $60,000. JPMorgan Chase & Co. increased its position in shares of Source Capital by 30.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 407 shares during the last quarter. Assetmark Inc. increased its position in shares of Source Capital by 258.6% in the 2nd quarter. Assetmark Inc. now owns 1,983 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 1,430 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Source Capital in the 3rd quarter valued at $218,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Source Capital during the 3rd quarter worth $221,000. 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.