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

Special Opportunities Fund, Inc. (NYSE:SPE) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.98 and traded as low as $13.30. Special Opportunities Fund shares last traded at $13.33, with a volume of 21,218 shares trading hands.

Special Opportunities Fund Stock Performance

The business’s 50 day moving average price is $13.43 and its 200-day moving average price is $13.98.

Special Opportunities Fund Announces Dividend

The company 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 is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a yield of 9.7%.

Hedge Funds Weigh In On Special Opportunities Fund

Several large investors have recently modified their holdings of the business. Scotia Capital Inc. grew its stake in 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 buying an additional 1,270 shares in the last quarter. TrueMark Investments LLC lifted its holdings in Special Opportunities Fund by 8.7% in the first quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock valued at $223,000 after acquiring an additional 1,293 shares during the period. Raymond James Financial Inc. lifted its position in shares of Special Opportunities Fund by 7.2% during the 2nd quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock valued at $483,000 after buying an additional 2,082 shares in the last quarter. NBC Securities Inc. boosted its position in shares of Special Opportunities Fund by 21.8% during the fourth quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock worth $290,000 after acquiring an additional 3,539 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its stake in shares of Special Opportunities Fund by 30.6% in the 2nd quarter. Susquehanna International Group LLP now owns 15,435 shares of the closed-end fund’s stock valued at $208,000 after purchasing an additional 3,614 shares during the last quarter. 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.