Royal Bank of Canada Buys 1,284 Shares of Source Capital, Inc. (SOR)

Royal Bank of Canada increased its stake in Source Capital, Inc. (NYSE:SOR) by 12.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,301 shares of the financial services provider’s stock after acquiring an additional 1,284 shares during the period. Royal Bank of Canada’s holdings in Source Capital were worth $437,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SOR. Blue Bell Private Wealth Management LLC lifted its stake in shares of Source Capital by 199.6% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 4,718 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 3,143 shares during the last quarter. HL Financial Services LLC raised its position in Source Capital by 179.0% during the 2nd quarter. HL Financial Services LLC now owns 15,430 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 9,900 shares during the last quarter. HighTower Advisors LLC raised its position in Source Capital by 33.9% during the 2nd quarter. HighTower Advisors LLC now owns 16,912 shares of the financial services provider’s stock valued at $653,000 after purchasing an additional 4,277 shares during the last quarter. Ameriprise Financial Inc. raised its position in Source Capital by 16.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 31,533 shares of the financial services provider’s stock valued at $1,219,000 after purchasing an additional 4,373 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in Source Capital by 25.4% during the 2nd quarter. D.A. Davidson & CO. now owns 33,711 shares of the financial services provider’s stock valued at $1,302,000 after purchasing an additional 6,832 shares during the last quarter. 12.69% of the stock is owned by institutional investors.

Source Capital, Inc. (NYSE:SOR) opened at $39.83 on Wednesday. Source Capital, Inc. has a 52-week low of $35.37 and a 52-week high of $41.33.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Wednesday, November 22nd.

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In other Source Capital news, VP Thomas H. Atteberry purchased 1,500 shares of the stock in a transaction on Monday, October 2nd. The stock was acquired at an average price of $40.35 per share, with a total value of $60,525.00. Following the transaction, the vice president now directly owns 3,500 shares of the company’s stock, valued at approximately $141,225. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas H. Atteberry purchased 1,000 shares of the stock in a transaction on Tuesday, September 26th. The shares were acquired at an average cost of $40.08 per share, with a total value of $40,080.00. Following the transaction, the vice president now directly owns 2,000 shares in the company, valued at $80,160. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,380 shares of company stock valued at $136,476 in the last ninety days. 78.47% of the stock is currently owned by corporate insiders.

About Source Capital

Source Capital, Inc (the Fund) is a diversified, closed-end management investment company. The investment objective of the Fund is to seek maximum total return for Common shareholders from both capital appreciation and investment income to the extent consistent with protection of invested capital. The Fund’s investments include semiconductor devices, advertising and marketing, life science equipment, exploration and production, commercial mortgage-backed securities, insurance brokers, communications equipment, electrical power equipment, food and drug stores, corporate bonds and notes, residential mortgage-backed securities, asset-backed securities, corporate bank debt, other common stocks and electrical components.

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Institutional Ownership by Quarter for Source Capital (NYSE:SOR)

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