Source Capital (NYSE:SOR) Shares Pass Below 200-Day Moving Average – Time to Sell?

Shares of Source Capital, Inc. (NYSE:SOR) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 company has a fifty day moving average price of $45.87 and a 200-day moving average price of $46.87.

Source Capital Announces Dividend

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

Institutional Investors Weigh In On Source Capital

Large investors have recently made changes to their positions in the company. WHI TRUST Co LLC bought a new stake in shares of Source Capital in the fourth quarter worth about $42,000. PNC Financial Services Group Inc. raised its position in shares of Source Capital by 1,900.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the financial services provider’s stock valued at $46,000 after buying an additional 950 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in shares of Source Capital during the 4th quarter valued at about $68,000. JPMorgan Chase & Co. raised its position in shares of Source Capital by 30.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,724 shares of the financial services provider’s stock valued at $78,000 after buying an additional 407 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Source Capital during the 4th quarter valued at about $85,000. 13.15% of the stock is owned by institutional investors.

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.