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

Special Opportunities Fund, Inc. (NYSE:SPE) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.25 and traded as low as $13.57. Special Opportunities Fund shares last traded at $13.5850, with a volume of 28,851 shares traded.

Special Opportunities Fund Stock Performance

The stock’s 50 day moving average price is $13.73 and its two-hundred day moving average price is $14.25.

Special Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be issued a dividend of $0.1087 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a yield of 9.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPE. First Manhattan CO. LLC. lifted its position in shares of Special Opportunities Fund by 27.0% during the 4th quarter. First Manhattan CO. LLC. now owns 40,010 shares of the closed-end fund’s stock valued at $620,000 after acquiring an additional 8,500 shares during the period. Scotia Capital Inc. grew its holdings in shares of Special Opportunities Fund by 1.2% in the 3rd quarter. Scotia Capital Inc. now owns 107,016 shares of the closed-end fund’s stock worth $1,659,000 after acquiring an additional 1,270 shares during the period. Detalus Advisors LLC acquired a new stake in shares of Special Opportunities Fund in the 1st quarter worth approximately $144,000. Cetera Investment Advisers increased its stake in Special Opportunities Fund by 19.4% in the 4th quarter. Cetera Investment Advisers now owns 38,001 shares of the closed-end fund’s stock valued at $558,000 after purchasing an additional 6,175 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in 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 valued at $483,000 after purchasing an additional 2,082 shares in the last quarter. 35.60% of the stock is currently owned by institutional investors and hedge funds.

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.