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

Source Capital, Inc. (NYSE:SOR) declared a monthly dividend on Thursday, April 18th, Wall Street Journal reports. Investors of record on Tuesday, July 16th will be paid a dividend of 0.2083 per share by the financial services provider on Wednesday, July 31st. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date is Tuesday, July 16th.

Source Capital has raised its dividend by an average of 33.6% per year over the last three years and has increased its dividend every year for the last 1 years.

Source Capital Price Performance

SOR stock traded up $0.20 during midday trading on Thursday, hitting $41.26. The stock had a trading volume of 6,782 shares, compared to its average volume of 14,422. The business has a 50-day moving average of $41.55 and a two-hundred day moving average of $40.21. Source Capital has a 52-week low of $36.48 and a 52-week high of $42.92.

Institutional Investors Weigh In On Source Capital

Several large investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in Source Capital by 19.5% in the third quarter. Royal Bank of Canada now owns 2,363 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 386 shares during the last quarter. Belpointe Asset Management LLC lifted its position in shares of Source Capital by 83.3% during the 1st quarter. Belpointe Asset Management LLC now owns 2,535 shares of the financial services provider’s stock valued at $96,000 after buying an additional 1,152 shares in the last quarter. UBS Group AG raised its stake in Source Capital by 52.2% during the 4th quarter. UBS Group AG now owns 4,972 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 1,706 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Source Capital by 26.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,065 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 1,050 shares during the period. Finally, LPL Financial LLC bought a new stake in Source Capital during the 2nd quarter valued at approximately $219,000. 13.15% of the stock is currently owned by institutional investors.

About Source Capital

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.