Special Opportunities Fund (NYSE:SPE) Stock Price Down 0.7% – Here’s What Happened

Special Opportunities Fund, Inc. (NYSE:SPE)’s share price traded down 0.7% during mid-day trading on Thursday. The stock traded as low as $12.14 and last traded at $12.1560. Approximately 56,353 shares traded hands during mid-day trading, an increase of 13% from the average session volume of 49,761 shares. The stock had previously closed at $12.24.

Special Opportunities Fund Stock Performance

The business has a 50 day moving average of $12.64 and a 200-day moving average of $13.64.

Special Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 22nd will be given a $0.1087 dividend. This represents a $1.30 annualized dividend and a yield of 10.7%. The ex-dividend date is Tuesday, December 22nd.

Institutional Trading of Special Opportunities Fund

Several hedge funds have recently modified their holdings of SPE. SkyView Investment Advisors LLC acquired a new position in Special Opportunities Fund during the second quarter worth about $44,000. Global Retirement Partners LLC purchased a new stake in shares of Special Opportunities Fund during the second quarter worth about $50,000. Principle Wealth Partners LLC acquired a new position in Special Opportunities Fund in the 3rd quarter valued at $126,000. Patron Partners LLC purchased a new position in shares of Special Opportunities Fund during the 2nd quarter worth $192,000. Finally, Susquehanna International Group LLP boosted its holdings in shares of Special Opportunities Fund by 30.6% during the second quarter. Susquehanna International Group LLP now owns 15,435 shares of the closed-end fund’s stock worth $208,000 after purchasing an additional 3,614 shares during the last quarter. 35.60% of the stock is owned by institutional investors and hedge funds.

About Special Opportunities Fund

Special Opportunities Fund, Inc. (NYSE:SPE) is a closed-end investment company that seeks to generate total returns through a combination of current income and capital appreciation. The fund invests primarily in other closed-end funds, business development companies and securities involved in special situations. Its investment strategy may include identifying opportunities where underlying assets trade at discounts to their perceived value, as well as participating in restructurings, mergers, liquidations and other corporate actions.