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

Shares of Special Opportunities Fund, Inc. (NYSE:SPE) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.04 and traded as low as $13.55. Special Opportunities Fund shares last traded at $13.59, with a volume of 8,138 shares changing hands.

Special Opportunities Fund Price Performance

The firm has a fifty day moving average of $13.46 and a 200 day moving average of $14.03.

Special Opportunities Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Scotia Capital Inc. grew its holdings in shares of Special Opportunities Fund by 1.2% in the third quarter. Scotia Capital Inc. now owns 107,016 shares of the closed-end fund’s stock valued at $1,659,000 after purchasing an additional 1,270 shares during the period. TrueMark Investments LLC boosted its holdings in 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 valued at $223,000 after purchasing an additional 1,293 shares during the last quarter. Raymond James Financial Inc. boosted its holdings 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 during the last quarter. NBC Securities Inc. grew its stake 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 valued at $290,000 after buying an additional 3,539 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in shares of Special Opportunities Fund in the 2nd quarter valued at approximately $50,000. 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.