Chemistry Wealth Management LLC Sells 29,347 Shares of Source Capital, Inc. (NYSE:SOR)

Chemistry Wealth Management LLC reduced its stake in Source Capital, Inc. (NYSE:SOR) by 22.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,733 shares of the financial services provider’s stock after selling 29,347 shares during the period. Source Capital accounts for 1.2% of Chemistry Wealth Management LLC’s holdings, making the stock its 16th biggest holding. Chemistry Wealth Management LLC owned about 1.23% of Source Capital worth $4,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in SOR. Leo Wealth LLC bought a new position in shares of Source Capital during the fourth quarter valued at approximately $206,000. International Assets Investment Management LLC bought a new position in shares of Source Capital during the fourth quarter valued at approximately $807,000. D.A. Davidson & CO. boosted its stake in shares of Source Capital by 6.6% during the fourth quarter. D.A. Davidson & CO. now owns 123,103 shares of the financial services provider’s stock valued at $4,970,000 after purchasing an additional 7,572 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Source Capital by 45.3% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 5,450 shares of the financial services provider’s stock valued at $235,000 after purchasing an additional 1,700 shares in the last quarter. Finally, AQR Arbitrage LLC boosted its stake in shares of Source Capital by 34.8% during the third quarter. AQR Arbitrage LLC now owns 14,249 shares of the financial services provider’s stock valued at $550,000 after purchasing an additional 3,675 shares in the last quarter. 13.15% of the stock is currently owned by institutional investors.

Source Capital Price Performance

Shares of NYSE SOR traded down $0.44 during midday trading on Wednesday, reaching $43.06. 7,809 shares of the company’s stock traded hands, compared to its average volume of 13,599. The stock’s 50 day simple moving average is $42.63 and its 200-day simple moving average is $41.48. Source Capital, Inc. has a one year low of $37.26 and a one year high of $47.91.

Source Capital Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, June 19th will be paid a dividend of $0.2083 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a dividend yield of 5.76%.

About Source Capital

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.