Source Capital (NYSE:SOR) Shares Pass Below 50-Day Moving Average – What’s Next?

Source Capital, Inc. (NYSE:SOR) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $41.69 and traded as low as $39.55. Source Capital shares last traded at $41.10, with a volume of 26,264 shares changing hands.

Source Capital Stock Performance

The business has a fifty day moving average of $41.69 and a 200 day moving average of $43.19.

Source Capital Cuts Dividend

The company also recently declared a — dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.2083 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a dividend yield of 6%.

Institutional Investors Weigh In On Source Capital

Hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. raised its position in shares of Source Capital by 77.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 26,081 shares of the financial services provider’s stock worth $1,134,000 after purchasing an additional 11,392 shares during the last quarter. Congress Wealth Management LLC DE bought a new stake in Source Capital during the 4th quarter valued at about $357,000. DKM Wealth Management Inc. purchased a new position in Source Capital in the fourth quarter worth about $11,931,000. Raymond James Financial Inc. bought a new position in shares of Source Capital in the fourth quarter worth approximately $2,231,000. Finally, Sanctuary Advisors LLC increased its position in shares of Source Capital by 7.0% during the third quarter. Sanctuary Advisors LLC now owns 15,059 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 988 shares in the last quarter. Institutional investors own 13.15% of the company’s stock.

About Source Capital

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.