The Board of Directors of Source Capital, Inc. (NYSE: SOR), today declared a regular quarterly distribution of 25 cents a common share, payable June 15, 2020, to shareholders of record as of the close of business May 29, 2020.
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 […]
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
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Source Capital, Inc. ("Source" or "Company") announced today that due to the emerging public health impact of the coronavirus pandemic (COVID-19), the 2020 Annual Meeting of Shareholders to be held on May 11, 2020, will be conducted as a virtual meeting (the "Annual Meeting") . Shareholders will not be able to attend the Annual Meeting in person.