Source Capital, Inc. (NYSE:SOR) VP Abhijeet V. Patwardhan acquired 270 shares of Source Capital stock in a transaction that occurred on Tuesday, October 3rd. The shares were purchased at an average cost of $40.36 per share, with a total value of $10,897.20. Following the transaction, the vice president now owns 395 shares of the company’s stock, valued at approximately $15,942.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Source Capital, Inc. (NYSE:SOR) traded up 0.8109% during mid-day trading on Thursday, reaching $40.4151. The company had a trading volume of 7,380 shares. The firm’s 50-day moving average price is $39.43 and its 200-day moving average price is $38.68. Source Capital, Inc. has a 12 month low of $35.10 and a 12 month high of $41.24.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Wednesday, August 23rd.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Source Capital by 12.8% in the 2nd quarter. Royal Bank of Canada now owns 11,301 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 1,284 shares during the period. Deschutes Portfolio Strategy LLC boosted its stake in Source Capital by 1.2% in the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 156,799 shares of the financial services provider’s stock worth $6,060,000 after purchasing an additional 1,819 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in Source Capital by 199.6% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 4,718 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 3,143 shares during the period. HighTower Advisors LLC boosted its stake in Source Capital by 33.9% in the 2nd quarter. HighTower Advisors LLC now owns 16,912 shares of the financial services provider’s stock worth $653,000 after purchasing an additional 4,277 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Source Capital by 16.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 31,533 shares of the financial services provider’s stock worth $1,219,000 after purchasing an additional 4,373 shares during the period. 13.86% of the stock is owned by hedge funds and other institutional investors.

Source Capital Company Profile

Source Capital, Inc (the Fund) is a diversified, closed-end management investment company. The investment objective of the Fund is to seek maximum total return for Common shareholders from both capital appreciation and investment income to the extent consistent with protection of invested capital. The Fund’s investments include semiconductor devices, advertising and marketing, life science equipment, exploration and production, commercial mortgage-backed securities, insurance brokers, communications equipment, electrical power equipment, food and drug stores, corporate bonds and notes, residential mortgage-backed securities, asset-backed securities, corporate bank debt, other common stocks and electrical components.

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