Special Opportunities Fund (NYSE:SPE) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Special Opportunities Fund, Inc. (NYSE:SPE)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.11 and traded as low as $13.32. Special Opportunities Fund shares last traded at $13.4090, with a volume of 17,228 shares trading hands.

Special Opportunities Fund Stock Up 0.1%

The stock’s 50 day moving average is $13.51 and its two-hundred day moving average is $14.08.

Special Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a $0.1087 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 9.8%.

Institutional Investors Weigh In On Special Opportunities Fund

Hedge funds have recently modified their holdings of the business. Scotia Capital Inc. increased its position in shares of Special Opportunities Fund by 1.2% during the third quarter. Scotia Capital Inc. now owns 107,016 shares of the closed-end fund’s stock worth $1,659,000 after purchasing an additional 1,270 shares in the last quarter. TrueMark Investments LLC boosted its position in shares of Special Opportunities Fund by 8.7% in the 1st quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock worth $223,000 after purchasing an additional 1,293 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Special Opportunities Fund by 7.2% in the 2nd quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock worth $483,000 after purchasing an additional 2,082 shares in the last quarter. NBC Securities Inc. grew its stake in 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 worth $290,000 after buying an additional 3,539 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in Special Opportunities Fund during the 2nd quarter worth $50,000. Hedge funds and other institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Company Profile

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.