Special Opportunities Fund (NYSE:SPE) Shares Cross Below 200-Day Moving Average – Here’s Why

Special Opportunities Fund, Inc. (NYSE:SPE) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.58 and traded as low as $13.69. Special Opportunities Fund shares last traded at $13.7260, with a volume of 38,006 shares.

Special Opportunities Fund Stock Down 0.8%

The stock has a fifty day moving average of $14.09 and a 200 day moving average of $14.58.

Special Opportunities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.1087 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date is Tuesday, June 16th.

Institutional Investors Weigh In On Special Opportunities Fund

Hedge funds have recently bought and sold shares of the business. MAI Capital Management raised its stake in Special Opportunities Fund by 38.6% during the third quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock valued at $81,000 after purchasing an additional 1,450 shares in the last quarter. Detalus Advisors LLC bought a new position in shares of Special Opportunities Fund during the 1st quarter valued at approximately $144,000. TrueMark Investments LLC increased its position in shares of Special Opportunities Fund by 8.7% during the 1st quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock valued at $223,000 after purchasing an additional 1,293 shares during the last quarter. NBC Securities Inc. increased its position in shares of Special Opportunities Fund by 21.8% during the 4th quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock valued at $290,000 after purchasing an additional 3,539 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Special Opportunities Fund by 19.5% during the 2nd quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock valued at $362,000 after purchasing an additional 3,811 shares during the last quarter. Hedge funds and other institutional investors own 35.60% of the company’s stock.

About Special Opportunities Fund

Special Opportunities Fund (NYSE: SPE) is a closed-end management investment company that seeks to deliver attractive total return by investing across corporate capital structures. The fund primarily allocates capital to debt and equity securities of both public and private issuers, with a focus on special situations, distressed credits and event-driven opportunities.

The fund’s flexible, multi-asset strategy allows portfolio managers to shift allocations among high-yield bonds, leveraged loans, convertible securities, preferred stock and equity positions.