Source Capital, Inc. (NYSE:SOR – Get Rating) Vice Chairman Ryan A. Leggio purchased 1,000 shares of Source Capital in a trade dated Thursday, June 2. The shares were acquired at an average price of $39.55 per share, with a total value of $39,550.00. Following the acquisition, the vice president now directly owns 4,000 shares of the company, valued at $158,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of NYSE:SOR traded down $0.42 during the midday session on Friday, hitting $39.34. 9,831 shares were traded, against an average volume of 17,851. Source Capital, Inc. has a 52-week low of $37.02 and a 52-week high of $47.50. The company’s fifty-day simple moving average is $39.71 and its two-hundred-day simple moving average is $41.73.
The company also recently announced a monthly dividend, which will be paid on Wednesday, August 31. Shareholders of record on Tuesday, August 16 will receive a dividend of $0.185 per share. The ex-dividend date is Monday, August 15. This represents an annualized dividend of $2.22 and a yield of 5.64%.
A number of hedge funds have recently increased or reduced their stakes in SOR. Chemistry Wealth Management LLC bought a new position in Source Capital stock in the first quarter worth approximately $13,203,000. Shaker Financial Services LLC increased its position in Source Capital by 11.6% in Q1. Shaker Financial Services LLC now owns 171,162 shares of the financial services provider worth $7,189,000 after purchasing an additional 17,791 shares in the last quarter. Litman Gregory Wealth Management LLC raised its position in Source Capital by 20.2% in Q1. Litman Gregory Wealth Management LLC now owns 130,253 shares of the financial services provider worth $5,471,000 after purchasing an additional 21,860 shares in the last quarter. First Trust Advisors LP increased its position in Source Capital by 5.2% in the fourth quarter. First Trust Advisors LP now owns 93,529 shares of the financial services provider worth $4,041,000 after buying an additional 4,649 shares in the last quarter. Finally, DA Davidson & CO. increased its position in Source Capital by 4.1% in the 1st quarter. DA Davidson & CO. now owns 84,738 shares of the financial services provider worth $3,559,000 after purchasing an additional 3,304 shares in the last quarter. 17.45% of the shares are currently held by institutional investors and hedge funds.
Source Capital Company Profile (Get a rating)
Source Capital, Inc is a closed-end balanced fund launched and managed by First Pacific Advisors, LLC. The fund invests in US stock markets. It seeks to invest in the shares of companies operating in diversified sectors. The fund invests primarily in value stocks of small and mid capitalization companies.
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