Special Opportunities Fund (NYSE:SPE) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Special Opportunities Fund, Inc. (NYSE:SPE) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.65 and traded as low as $14.02. Special Opportunities Fund shares last traded at $14.0660, with a volume of 39,845 shares trading hands.

Special Opportunities Fund Stock Up 0.3%

The stock’s fifty day simple moving average is $14.08 and its two-hundred day simple moving average is $14.65.

Special Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.1087 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date is Tuesday, June 16th.

Hedge Funds Weigh In On Special Opportunities Fund

A number of hedge funds have recently made changes to their positions in the stock. MAI Capital Management lifted its holdings in shares of 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 valued at $81,000 after acquiring an additional 1,450 shares in the last quarter. Detalus Advisors LLC acquired a new position in shares of Special Opportunities Fund during the 1st quarter valued at $144,000. TrueMark Investments LLC lifted its holdings in shares of Special Opportunities Fund by 8.7% during the 1st 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 in the last quarter. NBC Securities Inc. lifted its holdings in shares of Special Opportunities Fund by 21.8% during 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 in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Special Opportunities Fund by 19.5% during the 2nd quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock valued at $362,000 after acquiring an additional 3,811 shares in the last quarter. Institutional investors and hedge funds 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.