DKM Wealth Management Inc. Makes New $11.93 Million Investment in Source Capital, Inc. (NYSE:SOR)

DKM Wealth Management Inc. acquired a new stake in Source Capital, Inc. (NYSE:SOR) in the fourth quarter, Holdings Channel reports. The firm acquired 274,334 shares of the financial services provider’s stock, valued at approximately $11,931,000. Source Capital accounts for approximately 11.3% of DKM Wealth Management Inc.’s holdings, making the stock its 3rd biggest holding.

Several other hedge funds have also modified their holdings of SOR. Thrivent Financial for Lutherans boosted its position in shares of Source Capital by 1.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 16,135 shares of the financial services provider’s stock valued at $718,000 after purchasing an additional 224 shares during the period. Lake Street Advisors Group LLC grew its position in shares of Source Capital by 3.4% during the fourth quarter. Lake Street Advisors Group LLC now owns 15,426 shares of the financial services provider’s stock worth $712,000 after acquiring an additional 511 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Source Capital by 0.8% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 77,073 shares of the financial services provider’s stock valued at $3,352,000 after acquiring an additional 630 shares during the period. Sanctuary Advisors LLC raised its position in Source Capital by 7.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,059 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 988 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Source Capital by 6.7% during the 4th quarter. Park Avenue Securities LLC now owns 17,416 shares of the financial services provider’s stock worth $757,000 after purchasing an additional 1,092 shares during the period. 13.15% of the stock is currently owned by institutional investors and hedge funds.

Source Capital Stock Performance

Shares of SOR stock opened at $41.61 on Wednesday. The stock’s 50-day moving average price is $42.17 and its 200 day moving average price is $43.51. Source Capital, Inc. has a 52-week low of $41.00 and a 52-week high of $47.91.

Source Capital Cuts Dividend

The business also recently declared a — dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.2083 per share. The ex-dividend date is Thursday, May 15th. This represents a dividend yield of 6%.

Source Capital Profile

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.