28,132 Source Capital, Inc. $SOR Shares Sold by Shaker Financial Services LLC

Shaker Financial Services LLC lessened its stake in Source Capital, Inc. (NYSE:SOR) by 18.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 125,834 shares of the financial services provider’s stock after selling 28,132 shares during the quarter. Source Capital accounts for about 1.9% of Shaker Financial Services LLC’s investment portfolio, making the stock its 10th biggest holding. Shaker Financial Services LLC’s holdings in Source Capital were worth $5,717,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Readystate Asset Management LP acquired a new position in shares of Source Capital in the 2nd quarter valued at $565,000. DKM Wealth Management Inc. raised its holdings in shares of Source Capital by 1.8% during the third quarter. DKM Wealth Management Inc. now owns 318,676 shares of the financial services provider’s stock valued at $14,477,000 after acquiring an additional 5,580 shares during the last quarter. Diversified Management Inc. lifted its holdings in Source Capital by 2.8% in 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 in the last quarter. First Trust Advisors LP lifted its stake in shares of Source Capital by 4.4% in the first quarter. First Trust Advisors LP now owns 74,530 shares of the financial services provider’s stock worth $3,452,000 after buying an additional 3,113 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted 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 last quarter. Institutional investors and hedge funds own 13.15% of the company’s stock.

Source Capital Stock Down 0.6%

NYSE:SOR traded down $0.26 during trading hours on Wednesday, hitting $45.08. The company had a trading volume of 2,410 shares, compared to its average volume of 11,923. Source Capital, Inc. has a 1 year low of $44.20 and a 1 year high of $50.41. The company has a 50-day moving average of $46.09 and a 200 day moving average of $45.87.

Source Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 13th will be issued a $0.2083 dividend. The ex-dividend date is Friday, November 13th. This represents a $2.50 dividend on an annualized basis and a yield of 5.5%.

Source Capital Profile

Source Capital, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol SOR. The company seeks long-term growth of capital and current income by investing in a diversified portfolio of securities.

Its portfolio may include common and preferred stocks, convertible securities, and other investments in public and private companies. Source Capital has historically focused on identifying businesses with potential for capital appreciation while also pursuing income through dividends and interest.

The fund is managed as an investment portfolio rather than operating a conventional commercial business, and its investment exposure can span companies and industries in the United States and other markets.