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

Source Capital, Inc. (NYSE:SOR) declared a monthly dividend on Tuesday, January 20th. Investors of record on Wednesday, April 15th will be paid a dividend of 0.2083 per share by the financial services provider on Thursday, April 30th. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, April 15th.

Source Capital Price Performance

Shares of NYSE:SOR opened at $47.02 on Wednesday. The firm has a 50 day moving average of $47.09 and a 200 day moving average of $45.53. Source Capital has a 52 week low of $38.66 and a 52 week high of $50.41.

Institutional Investors Weigh In On Source Capital

Institutional investors have recently added to or reduced their stakes in the stock. Hara Capital LLC grew its stake in Source Capital by 50.3% in the second quarter. Hara Capital LLC now owns 107,537 shares of the financial services provider’s stock valued at $4,663,000 after purchasing an additional 35,995 shares during the last quarter. Shaker Financial Services LLC raised its stake in shares of Source Capital by 128.9% during the 2nd quarter. Shaker Financial Services LLC now owns 60,873 shares of the financial services provider’s stock worth $2,640,000 after acquiring an additional 34,282 shares in the last quarter. Cornerstone Advisors LLC boosted its stake in Source Capital by 487.9% in the second quarter. Cornerstone Advisors LLC now owns 16,942 shares of the financial services provider’s stock valued at $735,000 after acquiring an additional 14,060 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Source Capital in the second quarter valued at approximately $576,000. Finally, Capital Investment Counsel Inc acquired a new position in shares of Source Capital during the third quarter worth $451,000. Institutional investors own 13.15% of the company’s stock.

About Source Capital

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.