Special Opportunities Fund (NYSE:SPE) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

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 $14.75 and traded as low as $14.26. Special Opportunities Fund shares last traded at $14.2950, with a volume of 26,468 shares changing hands.

Special Opportunities Fund Stock Performance

The business has a 50 day moving average of $14.14 and a 200-day moving average of $14.75.

Special Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.1087 per share. The ex-dividend date is Tuesday, June 16th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%.

Institutional Trading of Special Opportunities Fund

Several institutional investors and hedge funds have recently bought and sold shares of SPE. MAI Capital Management boosted its stake in Special Opportunities Fund by 38.6% during the 3rd quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock worth $81,000 after purchasing an additional 1,450 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of Special Opportunities Fund in the third quarter valued at about $112,000. Detalus Advisors LLC acquired a new stake in shares of Special Opportunities Fund during the first quarter worth about $144,000. TrueMark Investments LLC grew its holdings in shares of Special Opportunities Fund by 8.7% during the first quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock worth $223,000 after buying an additional 1,293 shares during the last quarter. Finally, NBC Securities Inc. increased its position in 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 acquiring an additional 3,539 shares during the period. Hedge funds and other institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Company Profile

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.