Source Capital (NYSE:SOR) Shares Pass Above 200-Day Moving Average – Should You Sell?

Source Capital, Inc. (NYSE:SOR)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $45.90 and traded as high as $48.48. Source Capital shares last traded at $47.8150, with a volume of 2,231 shares changing hands.

Source Capital Price Performance

The stock has a 50-day moving average of $47.56 and a two-hundred day moving average of $45.90.

Source Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 14th will be paid a $0.2083 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%.

Hedge Funds Weigh In On Source Capital

A number of large investors have recently added to or reduced their stakes in the business. WHI TRUST Co LLC purchased a new stake in Source Capital during the fourth quarter valued at about $42,000. Wolverine Asset Management LLC purchased a new stake in Source Capital during the 4th quarter valued at about $199,000. Shaker Financial Services LLC boosted its holdings in Source Capital by 108.9% during the 4th quarter. Shaker Financial Services LLC now owns 19,324 shares of the financial services provider’s stock valued at $884,000 after acquiring an additional 10,073 shares during the period. Diversified Management Inc. bought a new position in Source Capital during the 4th quarter worth approximately $5,344,000. Finally, Uptown Financial Advisors LLC purchased a new position in Source Capital in the 4th quarter worth approximately $276,000. Hedge funds and other institutional investors own 13.15% of the company’s stock.

Source Capital Company Profile

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.