DKM Wealth Management Inc. Invests $11.93 Million in Source Capital, Inc. (NYSE:SOR)

DKM Wealth Management Inc. bought a new stake in Source Capital, Inc. (NYSE:SOR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 274,334 shares of the financial services provider's stock, valued at approximately $11,931,000. Source Capital accounts for approximately 11.3% of DKM Wealth Management Inc.'s portfolio, making the stock its 3rd biggest holding. DKM Wealth Management Inc. owned 3.35% of Source Capital as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Thrivent Financial for Lutherans boosted its position in Source Capital by 1.4% during the third quarter. Thrivent Financial for Lutherans now owns 16,135 shares of the financial services provider's stock worth $718,000 after acquiring an additional 224 shares during the last quarter. Sanctuary Advisors LLC lifted its position in 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 buying an additional 988 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Source Capital by 6.7% in the fourth quarter. Park Avenue Securities LLC now owns 17,416 shares of the financial services provider's stock worth $757,000 after acquiring an additional 1,092 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake 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 valued at $1,134,000 after acquiring an additional 11,392 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in shares of Source Capital by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 157,030 shares of the financial services provider's stock valued at $6,829,000 after acquiring an additional 5,342 shares in the last quarter. 13.15% of the stock is currently owned by hedge funds and other institutional investors.

Source Capital Stock Down 1.2 %

NYSE SOR traded down $0.46 during trading hours on Monday, hitting $39.18. The company had a trading volume of 10,103 shares, compared to its average volume of 13,951. The firm's 50 day moving average is $42.08 and its 200 day moving average is $43.44. Source Capital, Inc. has a fifty-two week low of $38.66 and a fifty-two week high of $47.91.

Source Capital Cuts Dividend

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

Source Capital Company Profile

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.