Bank of America Corp DE Has $1.18 Million Stock Position in Source Capital, Inc. (NYSE:SOR)

Bank of America Corp DE decreased its stake in Source Capital, Inc. (NYSE:SOR) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,152 shares of the financial services provider’s stock after selling 2,744 shares during the period. Bank of America Corp DE owned approximately 0.33% of Source Capital worth $1,181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SOR. DKM Wealth Management Inc. acquired a new stake in shares of Source Capital in the fourth quarter worth $11,931,000. Raymond James Financial Inc. acquired a new stake in shares of Source Capital in the fourth quarter worth $2,231,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Source Capital in the fourth quarter worth $712,000. Congress Wealth Management LLC DE acquired a new stake in shares of Source Capital in the fourth quarter worth $357,000. Finally, Invesco Ltd. grew its stake in shares of Source Capital by 40.6% in the fourth quarter. Invesco Ltd. now owns 24,944 shares of the financial services provider’s stock worth $1,085,000 after acquiring an additional 7,198 shares during the last quarter. Institutional investors and hedge funds own 13.15% of the company’s stock.

Source Capital Trading Up 0.5%

SOR opened at $42.63 on Friday. Source Capital, Inc. has a fifty-two week low of $38.66 and a fifty-two week high of $46.34. The firm’s fifty day moving average price is $41.56 and its two-hundred day moving average price is $42.60.

Source Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, August 29th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.2083 per share. The ex-dividend date is Thursday, August 14th. This represents a $2.50 dividend on an annualized basis and a yield of 5.86%.

About Source Capital

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.