|Bid||39.56 x 3000|
|Ask||39.73 x 900|
|Day's Range||39.55 - 39.95|
|52 Week Range||34.06 - 39.97|
|Beta (5Y Monthly)||0.32|
|PE Ratio (TTM)||18.43|
|Forward Dividend & Yield||1.00 (2.53%)|
|Ex-Dividend Date||Nov 25, 2019|
|1y Target Est||N/A|
Concerns over rising interest rates and expected further rate increases have hit several stocks hard during the fourth quarter of 2018. Trends reversed 180 degrees in 2019 amid Powell's pivot and optimistic expectations towards a trade deal with China. Hedge funds and institutional investors tracked by Insider Monkey usually invest a disproportionate amount of their […]
The Board of Directors of Source Capital, Inc. (SOR), (the “Fund”) terminated the Fund’s stock repurchase program, which was initially approved by the Board on November 16, 2015. The Board may adopt a new stock repurchase program for the Fund, solely in its discretion, at any future time in response to various events, including, but not limited to, changing market conditions and/or material variations in the Fund’s discount level. The adoption of any future stock repurchase program for the Fund will be publicly disclosed prior to its effectiveness.
The Board of Directors of Source Capital, Inc. (SOR), today declared a regular quarterly distribution of 25 cents a common share, payable December 15, 2019, to shareholders of record as of the close of business November 29, 2019. Source Capital, Inc. (the “Fund”) is a closed-end investment company managed by First Pacific Advisors, LP. Generally, a return of capital would occur when the amount distributed by the Fund includes a portion of (or is comprised entirely of) your investment in the Fund in addition to (or rather than) your pro-rata portion of the Fund’s net income or capital gains.
Investors looking for a high income stream often balk at closed-end funds (CEFs) because of their higher fees.CEFs' average annual fees sit at 1.09% (or $109 for every $10,000 invested), according to CEF Insider data, though it's not unusual to see fees in the 3%-4% range. While it's not a perfect comparison, Morningstar data shows that the asset-weighted average fee for mutual funds and exchange-traded funds (ETFs) in 2018 was just 0.48%. And many ETFs are far cheaper than that - SoFi even launched a pair of "zero-fee" funds in April.Fees matter because they directly impact returns. "The higher the fee, the higher the hurdle for the ETF or mutual fund to keep up with their respective benchmark," says Brian Parker, co-founder and managing director of EP Wealth Advisors in Torrance, California. Fail to keep up with that benchmark, and investors lose. High-cost funds can cost investors literally tens of thousands of dollars not just in the returns themselves, but opportunity cost (you have less money to reinvest and grow over time).However, it occasionally pays to pay more. CEFs, for instance, deliver sky-high yields several times more than the average ETF yield - a boon for income investors who simply want to sit and collect checks over a long period of time rather than sell off assets to register returns. At the same time, you don't need to tolerate absurdly high fees, especially from funds that don't perform.With that in mind, here are seven cheap CEFs to buy. Each closed-end fund boasts annual expenses below the CEF average. SEE ALSO: The 10 Best Closed-End Funds (CEFs) for 2019