Readystate Asset Management LP Takes $565,000 Position in Source Capital, Inc. $SOR

Readystate Asset Management LP acquired a new position in Source Capital, Inc. (NYSE:SOR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,280 shares of the financial services provider’s stock, valued at approximately $565,000. Readystate Asset Management LP owned about 0.15% of Source Capital at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Diversified Management Inc. raised its stake in Source Capital by 2.8% during the 2nd quarter. Diversified Management Inc. now owns 121,285 shares of the financial services provider’s stock valued at $5,575,000 after purchasing an additional 3,316 shares during the last quarter. Cetera Investment Advisers grew its position in Source Capital by 4.5% in the 1st quarter. Cetera Investment Advisers now owns 5,478 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 235 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Source Capital by 4.4% during the 1st quarter. First Trust Advisors LP now owns 74,530 shares of the financial services provider’s stock worth $3,452,000 after purchasing an additional 3,113 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Source Capital by 1,900.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 950 shares during the period. Finally, Assetmark Inc. raised its position in shares of Source Capital by 15.9% during the first quarter. Assetmark Inc. now owns 3,586 shares of the financial services provider’s stock valued at $166,000 after buying an additional 493 shares during the last quarter. Institutional investors own 13.15% of the company’s stock.

Source Capital Trading Up 0.0%

NYSE SOR opened at $46.48 on Tuesday. Source Capital, Inc. has a twelve month low of $44.20 and a twelve month high of $50.41. The firm has a 50-day simple moving average of $46.25 and a 200 day simple moving average of $46.16.

Source Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be given a $0.2083 dividend. The ex-dividend date is Friday, November 13th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%.

Source Capital Company Profile

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.