Source Capital (NYSE:SOR) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Source Capital, Inc. (NYSE:SOR) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $46.16 and traded as low as $45.75. Source Capital shares last traded at $46.4750, with a volume of 2,058 shares trading hands.

Source Capital Stock Up 0.0%

The stock’s fifty day simple moving average is $46.25 and its 200 day simple moving average is $46.16.

Source Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders 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%.

Institutional Investors Weigh In On Source Capital

Several hedge funds and other institutional investors have recently made changes to their positions in SOR. Align Financial LLC purchased a new position in Source Capital during the fourth quarter worth approximately $7,006,000. Diversified Management Inc. grew 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 buying an additional 3,316 shares in the last quarter. First Trust Advisors LP grew its holdings in Source Capital by 4.4% in the 1st quarter. First Trust Advisors LP now owns 74,530 shares of the financial services provider’s stock valued at $3,452,000 after buying an additional 3,113 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Source Capital by 8.9% in the 4th quarter. Wells Fargo & Company MN now owns 60,823 shares of the financial services provider’s stock worth $2,783,000 after acquiring an additional 4,951 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Source Capital by 4.9% in the 2nd quarter. Raymond James Financial Inc. now owns 46,000 shares of the financial services provider’s stock worth $1,995,000 after acquiring an additional 2,165 shares during the last quarter. Institutional investors and hedge funds own 13.15% of the company’s stock.

About Source Capital

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.