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 two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.70 and traded as low as $13.82. Special Opportunities Fund shares last traded at $13.93, with a volume of 11,854 shares traded.

Special Opportunities Fund Stock Up 0.1%

The stock has a 50-day moving average of $14.08 and a 200 day moving average of $14.70.

Special Opportunities Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $0.1087 dividend. This represents a c) dividend on an annualized basis and a yield of 9.4%. The ex-dividend date is Tuesday, June 16th.

Hedge Funds Weigh In On Special Opportunities Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPE. Cetera Investment Advisers boosted its holdings in Special Opportunities Fund by 19.5% during the second quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock worth $362,000 after buying an additional 3,811 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in Special Opportunities Fund by 7.2% during the second quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock worth $483,000 after buying an additional 2,082 shares during the last quarter. TrueMark Investments LLC bought a new position in Special Opportunities Fund during the third quarter worth about $226,000. MAI Capital Management boosted its holdings in Special Opportunities Fund by 38.6% during the third quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock worth $81,000 after buying an additional 1,450 shares during the last quarter. Finally, Scotia Capital Inc. boosted its holdings in Special Opportunities Fund by 1.2% during the third 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 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.