Source Capital (NYSE:SOR) Stock Passes Below 200 Day Moving Average – Should You Sell?

Source Capital, Inc. (NYSE:SOR) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $46.87 and traded as low as $45.01. Source Capital shares last traded at $45.23, with a volume of 19,323 shares traded.

Source Capital Price Performance

The business’s 50-day simple moving average is $45.85 and its 200 day simple moving average is $46.86.

Source Capital Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Diversified Management Inc. bought a new stake in shares of Source Capital during the 4th quarter valued at about $5,344,000. Raymond James Financial Inc. lifted its stake in shares of Source Capital by 4.9% in the 2nd quarter. Raymond James Financial Inc. now owns 46,000 shares of the financial services provider’s stock worth $1,995,000 after purchasing an additional 2,165 shares during the period. LPL Financial LLC boosted its holdings in shares of Source Capital by 17.7% in the fourth quarter. LPL Financial LLC now owns 22,285 shares of the financial services provider’s stock worth $1,020,000 after buying an additional 3,344 shares during the last quarter. Evolve Private Wealth LLC purchased a new position in shares of Source Capital in the fourth quarter worth approximately $522,000. Finally, NewEdge Advisors LLC grew its position in Source Capital by 4.3% during the third quarter. NewEdge Advisors LLC now owns 7,334 shares of the financial services provider’s stock valued at $330,000 after buying an additional 300 shares during the period. Institutional investors own 13.15% of the company’s stock.

About Source Capital

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.