Source Capital (NYSE:SOR) Shares Pass Below Fifty Day Moving Average – Time to Sell?

Source Capital, Inc. (NYSE:SOR) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $45.84 and traded as low as $45.13. Source Capital shares last traded at $45.35, with a volume of 11,147 shares changing hands.

Source Capital Trading Down 1.2%

The stock’s fifty day simple moving average is $45.84 and its 200-day simple moving average is $46.80.

Source Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, August 13th will be paid a $0.2083 dividend. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%.

Hedge Funds Weigh In On Source Capital

A number of institutional investors have recently made changes to their positions in the business. DKM Wealth Management Inc. increased its stake in shares of Source Capital by 3.2% in the fourth quarter. DKM Wealth Management Inc. now owns 294,862 shares of the financial services provider’s stock worth $13,493,000 after purchasing an additional 9,225 shares during the period. Align Financial LLC bought a new position in shares of Source Capital in the fourth quarter worth about $7,006,000. Diversified Management Inc. bought a new position in shares of Source Capital in the fourth quarter worth about $5,344,000. First Trust Advisors LP increased its stake in shares of Source Capital by 4.4% in the first quarter. First Trust Advisors LP now owns 74,530 shares of the financial services provider’s stock worth $3,452,000 after purchasing an additional 3,113 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Source Capital by 8.9% in the fourth quarter. Wells Fargo & Company MN now owns 60,823 shares of the financial services provider’s stock worth $2,783,000 after purchasing an additional 4,951 shares during the period. 13.15% of the stock is currently owned by institutional investors.

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.