Chemistry Wealth Management LLC purchased a new stake in shares of Source Capital, Inc. (NYSE:SOR – Get Rating) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 314,368 shares of the financial services provider's stock, valued at approximately $13,203,000. Source Capital comprises 4.5% of Chemistry Wealth Management LLC's investment portfolio, making the stock its 4th largest position. Chemistry Wealth Management LLC owned approximately 3.76% of Source Capital as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SOR. Raymond James & Associates bought a new position in shares of Source Capital in the fourth quarter worth $1,728,000. Litman Gregory Wealth Management LLC boosted its holdings in shares of Source Capital by 20.2% during the first quarter. Litman Gregory Wealth Management LLC now owns 130,253 shares of the financial services provider's stock worth $5,471,000 after purchasing an additional 21,860 shares during the period. Shaker Financial Services LLC boosted its holdings in shares of Source Capital by 10.7% during the fourth quarter. Shaker Financial Services LLC now owns 153,371 shares of the financial services provider's stock worth $6,627,000 after purchasing an additional 14,809 shares during the period. Capital Investment Counsel Inc purchased a new stake in shares of Source Capital during the fourth quarter worth about $529,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in Source Capital in the fourth quarter worth about $235,000. Hedge funds and other institutional investors own 17.45% of the company's stock.
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Insider Buying and Selling at Source Capital
In other Source Capital news, Director Mark L. Lipson acquired 1,325 shares of the stock in a transaction dated Friday, July 1st. The stock was acquired at an average price of $37.83 per share, with a total value of $50,124.75. Following the completion of the purchase, the director now owns 4,046 shares in the company, valued at approximately $153,060.18. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Source Capital news, VP Ryan A. Leggio acquired 1,000 shares of the firm's stock in a transaction that occurred on Thursday, June 2nd. The shares were acquired at an average cost of $39.55 per share, for a total transaction of $39,550.00. Following the transaction, the vice president now directly owns 4,000 shares of the company's stock, valued at $158,200. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark L. Lipson bought 1,325 shares of Source Capital stock in a transaction on Friday, July 1st. The stock was purchased 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 owns 4,046 shares in the company, valued at approximately $153,060.18. The disclosure for this purchase can be found here. Company insiders own 76.97% of the company's stock.
Source Capital Price Performance
Shares of NYSE SOR traded up $0.44 on Friday, reaching $39.15. 21,999 shares of the company's stock traded hands, compared to its average volume of 17,811. The business's 50 day simple moving average is $37.86 and its two-hundred day simple moving average is $39.86. Source Capital, Inc. has a 12 month low of $36.13 and a 12 month high of $47.50.
Source Capital Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Wednesday, August 31st. Shareholders 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 dividend yield of 5.67%. The ex-dividend date is Monday, August 15th.
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.
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