First Trust Advisors LP lifted its position in Source Capital, Inc. (NYSE:SOR) by 12.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,246 shares of the financial services provider’s stock after purchasing an additional 5,554 shares during the period. First Trust Advisors LP’s holdings in Source Capital were worth $2,061,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Source Capital by 12.8% during the second quarter. Royal Bank of Canada now owns 11,301 shares of the financial services provider’s stock worth $437,000 after buying an additional 1,284 shares during the period. Deschutes Portfolio Strategy LLC lifted its holdings in Source Capital by 1.2% during the second quarter. Deschutes Portfolio Strategy LLC now owns 156,799 shares of the financial services provider’s stock worth $6,060,000 after buying an additional 1,819 shares during the period. Blue Bell Private Wealth Management LLC lifted its holdings in Source Capital by 199.6% during the second quarter. Blue Bell Private Wealth Management LLC now owns 4,718 shares of the financial services provider’s stock worth $182,000 after buying an additional 3,143 shares during the period. HighTower Advisors LLC lifted its holdings in Source Capital by 33.9% during the second quarter. HighTower Advisors LLC now owns 16,912 shares of the financial services provider’s stock worth $653,000 after buying an additional 4,277 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Source Capital by 16.1% during the second quarter. Ameriprise Financial Inc. now owns 31,533 shares of the financial services provider’s stock worth $1,219,000 after buying an additional 4,373 shares during the period. Hedge funds and other institutional investors own 12.87% of the company’s stock.

In other Source Capital news, VP Thomas H. Atteberry acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was purchased at an average price of $40.08 per share, for a total transaction of $40,080.00. Following the acquisition, the vice president now owns 2,000 shares in the company, valued at approximately $80,160. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas H. Atteberry acquired 1,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were acquired at an average price of $40.35 per share, with a total value of $60,525.00. Following the acquisition, the vice president now owns 3,500 shares in the company, valued at approximately $141,225. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 3,380 shares of company stock valued at $136,476. 0.07% of the stock is owned by company insiders.

Source Capital, Inc. (SOR) traded up $0.30 during trading on Monday, reaching $40.33. The company’s stock had a trading volume of 5,400 shares, compared to its average volume of 20,536. Source Capital, Inc. has a one year low of $35.37 and a one year high of $41.33.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 2.38%.

TRADEMARK VIOLATION NOTICE: This story was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/11/27/first-trust-advisors-lp-increases-position-in-source-capital-inc-sor.html.

About Source Capital

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.

Want to see what other hedge funds are holding SOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Source Capital, Inc. (NYSE:SOR).

Institutional Ownership by Quarter for Source Capital (NYSE:SOR)

Receive News & Stock Ratings for Source Capital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Source Capital Inc. and related stocks with our FREE daily email newsletter.