Source Capital (NYSE:SOR) Shares Pass Below 50 Day Moving Average – Time to Sell?

Source Capital, Inc. (NYSE:SOR) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $46.45 and traded as low as $46.05. Source Capital shares last traded at $46.51, with a volume of 40,530 shares trading hands.

Source Capital Price Performance

The stock has a 50-day moving average price of $46.45 and a 200-day moving average price of $46.81.

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 given a $0.2083 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Trading of Source Capital

A number of hedge funds have recently made changes to their positions in SOR. First Trust Advisors LP lifted its position in shares of Source Capital by 2.0% in the second quarter. First Trust Advisors LP now owns 69,152 shares of the financial services provider’s stock valued at $2,999,000 after buying an additional 1,353 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Source Capital by 4.9% in the second quarter. Raymond James Financial Inc. now owns 46,000 shares of the financial services provider’s stock valued at $1,995,000 after buying an additional 2,165 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Source Capital by 120.1% in the second quarter. Osaic Holdings Inc. now owns 11,811 shares of the financial services provider’s stock valued at $512,000 after buying an additional 6,445 shares during the last quarter. Hara Capital LLC lifted its position in shares of Source Capital by 1.7% in the third quarter. Hara Capital LLC now owns 109,344 shares of the financial services provider’s stock valued at $4,923,000 after buying an additional 1,807 shares during the last quarter. Finally, Capital Investment Counsel Inc acquired a new stake in shares of Source Capital in the third quarter valued at approximately $451,000. 13.15% of the stock is owned by institutional investors and hedge funds.

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.