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

DKM Wealth Management Inc. acquired a new position in Source Capital, Inc. (NYSE:SOR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 investment portfolio, making the stock its 3rd biggest holding. DKM Wealth Management Inc. owned about 3.35% of Source Capital at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Wealth Management LLC DE purchased a new stake in Source Capital in the fourth quarter worth about $357,000. Mesirow Financial Investment Management Inc. lifted 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 last quarter. Raymond James Financial Inc. bought a new position in shares of Source Capital during the 4th quarter valued at approximately $2,231,000. Jones Financial Companies Lllp bought a new stake in Source Capital in the fourth quarter worth about $206,000. Finally, Lake Street Advisors Group LLC grew its holdings in shares of Source Capital by 3.4% in the fourth quarter. Lake Street Advisors Group LLC now owns 15,426 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 511 shares during the last quarter. Institutional investors own 13.15% of the company’s stock.

Source Capital Stock Up 0.2 %

Shares of NYSE SOR opened at $41.61 on Wednesday. Source Capital, Inc. has a 12-month low of $41.00 and a 12-month high of $47.91. The stock’s fifty day simple moving average is $42.17 and its two-hundred day simple moving average is $43.51.

Source Capital Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, May 30th. Shareholders 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 Company 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.