Litman Gregory Wealth Management LLC increased its position in shares of Source Capital, Inc. (NYSE:SOR – Get Rating) by 20.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 130,253 shares of the financial services provider's stock after purchasing an additional 21,860 shares during the quarter. Source Capital accounts for 0.8% of Litman Gregory Wealth Management LLC's investment portfolio, making the stock its 23rd biggest holding. Litman Gregory Wealth Management LLC's holdings in Source Capital were worth $5,471,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Widmann Financial Services Inc. acquired a new position in shares of Source Capital during the 4th quarter worth $25,000. Jones Financial Companies Lllp acquired a new position in Source Capital during the first quarter worth about $145,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Source Capital in the fourth quarter valued at about $235,000. Advisor Group Holdings Inc. lifted its holdings in shares of Source Capital by 4.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,181 shares of the financial services provider's stock valued at $310,000 after purchasing an additional 335 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Source Capital by 6.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,101 shares of the financial services provider's stock valued at $480,000 after purchasing an additional 694 shares during the last quarter. 17.45% of the stock is currently owned by hedge funds and other institutional investors.
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Source Capital Stock Performance
Shares of Source Capital stock opened at $37.77 on Monday. Source Capital, Inc. has a 1 year low of $36.13 and a 1 year high of $47.50. The business has a 50 day moving average price of $37.87 and a 200 day moving average price of $39.99.
Source Capital Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, August 31st. Investors of record on Tuesday, August 16th will be given a dividend of $0.185 per share. This represents a $2.22 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date of this dividend is Monday, August 15th.
Insider Activity at Source Capital
In other news, Director Mark L. Lipson purchased 1,325 shares of the stock in a transaction dated Friday, July 1st. The stock was acquired at an average cost of $37.83 per share, for a total transaction of $50,124.75. Following the completion of the acquisition, the director now directly owns 4,046 shares in the company, valued at approximately $153,060.18. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Source Capital news, Director Mark L. Lipson acquired 1,325 shares of the firm's stock in a transaction dated Friday, July 1st. The shares were acquired at an average price of $37.83 per share, for a total transaction of $50,124.75. Following the completion of the acquisition, the director now directly owns 4,046 shares of the company's stock, valued at $153,060.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Ryan A. Leggio bought 1,000 shares of the company's stock in a transaction that occurred on Thursday, June 2nd. The stock was acquired at an average price of $39.55 per share, with a total value of $39,550.00. Following the completion of the purchase, the vice president now directly owns 4,000 shares of the company's stock, valued at approximately $158,200. The disclosure for this purchase can be found here. 76.97% of the stock is currently owned by corporate insiders.
Source Capital Profile
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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.
Further Reading
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