Source Capital, Inc. (NYSE:SOR – Get Rating) declared a monthly dividend on Wednesday, August 10th, Wall Street Journal reports. Shareholders of record on Tuesday, October 18th will be given a dividend of 0.185 per share by the financial services provider on Monday, October 31st. This represents a $2.22 annualized dividend and a yield of 5.70%. The ex-dividend date is Monday, October 17th.
Source Capital Trading Up 1.9 %
SOR traded up $0.71 during trading on Wednesday, hitting $38.92. 13,286 shares of the stock were exchanged, compared to its average volume of 17,797. The firm has a 50 day simple moving average of $37.82 and a 200 day simple moving average of $39.62. Source Capital has a 1 year low of $36.13 and a 1 year high of $47.50.
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Insiders Place Their Bets
In related news, VP Ryan A. Leggio bought 1,000 shares of the company's stock in a transaction on Thursday, June 2nd. The shares were acquired at an average price of $39.55 per share, with a total value of $39,550.00. Following the transaction, the vice president now owns 4,000 shares of the company's stock, valued at $158,200. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Mark L. Lipson bought 1,325 shares of the company's stock in a transaction on Friday, July 1st. The shares were acquired at an average price of $37.83 per share, with a total value of $50,124.75. Following the transaction, the director now owns 4,046 shares of the company's stock, valued at $153,060.18. The transaction was disclosed in a document filed 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 on Thursday, June 2nd. The shares were bought 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 in the company, valued at approximately $158,200. The disclosure for this purchase can be found here. 76.97% of the stock is currently owned by company insiders.
Institutional Trading of Source Capital
An institutional investor recently raised its position in Source Capital stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of Source Capital, Inc. (NYSE:SOR – Get Rating) by 2.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 11,375 shares of the financial services provider's stock after acquiring an additional 274 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.14% of Source Capital worth $478,000 at the end of the most recent reporting period. 17.45% of the stock is currently owned by hedge funds and other institutional investors.
Source Capital Company 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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