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

Source Capital, Inc. (NYSE:SOR) declared a monthly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders of record on Tuesday, July 16th will be given 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 yield of 6.06%. The ex-dividend date of this dividend is Tuesday, July 16th.

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

Source Capital Stock Up 0.5 %

Shares of NYSE SOR opened at $41.26 on Friday. Source Capital has a 1-year low of $36.48 and a 1-year high of $42.92. The company has a 50-day moving average of $41.57 and a two-hundred day moving average of $40.22.

Hedge Funds Weigh In On Source Capital

A number of institutional investors have recently modified their holdings of SOR. Royal Bank of Canada raised its stake in shares of 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 acquiring an additional 386 shares during the last quarter. Belpointe Asset Management LLC raised its stake in shares of Source Capital by 83.3% in the first quarter. Belpointe Asset Management LLC now owns 2,535 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 1,152 shares during the last quarter. UBS Group AG raised its stake in shares of Source Capital by 52.2% in the fourth quarter. UBS Group AG now owns 4,972 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 1,706 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Source Capital by 26.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,065 shares of the financial services provider’s stock worth $196,000 after acquiring an additional 1,050 shares during the last quarter. Finally, LPL Financial LLC bought a new position in shares of Source Capital in the second quarter worth about $219,000. 13.15% of the stock is 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.