Special Opportunities Fund (NYSE:SPE) Shares Cross Below 200-Day Moving Average – Here’s Why

Special Opportunities Fund, Inc. (NYSE:SPE)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.58 and traded as low as $13.69. Special Opportunities Fund shares last traded at $13.7260, with a volume of 38,006 shares changing hands.

Special Opportunities Fund Price Performance

The company has a 50-day simple moving average of $14.09 and a 200 day simple moving average of $14.58.

Special Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $0.1087 per share. This represents a c) annualized dividend and a yield of 9.5%. The ex-dividend date is Tuesday, June 16th.

Institutional Trading of Special Opportunities Fund

Several institutional investors have recently bought and sold shares of SPE. Detalus Advisors LLC acquired a new stake in Special Opportunities Fund in the first quarter valued at approximately $144,000. First Manhattan CO. LLC. grew its holdings in Special Opportunities Fund by 27.0% in the fourth quarter. First Manhattan CO. LLC. now owns 40,010 shares of the closed-end fund’s stock valued at $620,000 after purchasing an additional 8,500 shares during the period. Cetera Investment Advisers grew its holdings in Special Opportunities Fund by 19.4% in the fourth 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 during the period. NBC Securities Inc. grew its holdings in Special Opportunities Fund by 21.8% in the fourth quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock valued at $290,000 after purchasing an additional 3,539 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in Special Opportunities Fund by 7.2% in the second 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 period. 35.60% of the stock is 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.