Raymond James Financial Inc. Invests $2.23 Million in Source Capital, Inc. (NYSE:SOR)

Raymond James Financial Inc. acquired a new stake in shares of Source Capital, Inc. (NYSE:SOR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 51,306 shares of the financial services provider's stock, valued at approximately $2,231,000. Raymond James Financial Inc. owned approximately 0.63% of Source Capital as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SOR. Jones Financial Companies Lllp acquired a new stake in shares of Source Capital in the fourth quarter worth approximately $206,000. Sanctuary Advisors LLC lifted its holdings in Source Capital by 7.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,059 shares of the financial services provider's stock valued at $665,000 after purchasing an additional 988 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in Source Capital by 3.4% during the 4th quarter. Lake Street Advisors Group LLC now owns 15,426 shares of the financial services provider's stock worth $712,000 after purchasing an additional 511 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Source Capital during the fourth quarter worth $712,000. Finally, Thrivent Financial for Lutherans raised its position in shares of Source Capital by 1.4% in the third quarter. Thrivent Financial for Lutherans now owns 16,135 shares of the financial services provider's stock valued at $718,000 after buying an additional 224 shares during the last quarter. 13.15% of the stock is owned by hedge funds and other institutional investors.

Source Capital Stock Performance

Shares of NYSE:SOR traded down $0.81 during midday trading on Thursday, hitting $40.91. The company's stock had a trading volume of 13,335 shares, compared to its average volume of 12,340. Source Capital, Inc. has a 12-month low of $40.80 and a 12-month high of $47.91. The business's 50 day simple moving average is $42.13 and its 200 day simple moving average is $43.48.

Source Capital Cuts Dividend

The business also recently declared a -- dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a $0.2083 dividend. 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.