Readystate Asset Management LP Purchases Shares of 12,280 Source Capital, Inc. $SOR

Readystate Asset Management LP acquired a new position in shares of Source Capital, Inc. (NYSE:SOR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,280 shares of the financial services provider’s stock, valued at approximately $565,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WHI TRUST Co LLC bought a new stake in shares of Source Capital in the 4th quarter worth about $42,000. PNC Financial Services Group Inc. increased its position in shares of Source Capital by 1,900.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 950 shares in the last quarter. Manchester Capital Management LLC bought a new position in Source Capital during the 4th quarter valued at about $68,000. JPMorgan Chase & Co. lifted its holdings in Source Capital by 30.9% during 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. Finally, Kestra Advisory Services LLC bought a new position in Source Capital during the 4th quarter valued at about $85,000. 13.15% of the stock is owned by institutional investors.

Source Capital Stock Performance

NYSE:SOR opened at $46.48 on Tuesday. Source Capital, Inc. has a 12 month low of $44.20 and a 12 month high of $50.41. The company’s 50-day moving average price is $46.25 and its two-hundred day moving average price is $46.16.

Source Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be paid a $0.2083 dividend. The ex-dividend date is Friday, November 13th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%.

Source Capital Profile

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.