Special Opportunities Fund (NYSE:SPE) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Special Opportunities Fund, Inc. (NYSE:SPE) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.70 and traded as low as $13.82. Special Opportunities Fund shares last traded at $13.93, with a volume of 11,854 shares trading hands.

Special Opportunities Fund Trading Down 0.1%

The company’s fifty day simple moving average is $14.08 and its two-hundred day simple moving average is $14.70.

Special Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.1087 per share. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend is Tuesday, June 16th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SPE. MAI Capital Management lifted its position in shares of Special Opportunities Fund by 38.6% in the 3rd quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock worth $81,000 after buying an additional 1,450 shares during the last quarter. Detalus Advisors LLC bought a new position in shares of Special Opportunities Fund in the 1st quarter worth about $144,000. TrueMark Investments LLC lifted 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 buying an additional 1,293 shares during the last quarter. NBC Securities Inc. lifted its position in shares of Special Opportunities Fund by 21.8% in 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, Cetera Investment Advisers lifted its position in shares of Special Opportunities Fund by 19.5% in the 2nd quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock worth $362,000 after buying an additional 3,811 shares during the last quarter. 35.60% of the stock is currently owned by institutional investors.

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.