Special Opportunities Fund (NYSE:SPE) Shares Pass Above 50 Day Moving Average – Here’s Why

Shares of Special Opportunities Fund, Inc. (NYSE:SPE) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $14.79 and traded as high as $15.29. Special Opportunities Fund shares last traded at $15.28, with a volume of 35,420 shares traded.

Special Opportunities Fund Stock Performance

The stock has a 50-day simple moving average of $14.79 and a 200-day simple moving average of $14.97.

Special Opportunities Fund Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Stockholders of record on Wednesday, May 21st were paid a $0.1098 dividend. This represents a dividend yield of 8.65%. The ex-dividend date of this dividend was Tuesday, May 20th.

Institutional Trading of Special Opportunities Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in shares of Special Opportunities Fund in the 4th quarter worth $44,000. Global Retirement Partners LLC bought a new stake in shares of Special Opportunities Fund in the 4th quarter worth $45,000. K2 Principal Fund L.P. bought a new stake in shares of Special Opportunities Fund in the 4th quarter worth $146,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Special Opportunities Fund by 41.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 15,542 shares of the closed-end fund’s stock worth $227,000 after buying an additional 4,570 shares in the last quarter. Finally, NBC Securities Inc. raised its stake in shares of Special Opportunities Fund by 106,333.3% in the 1st quarter. NBC Securities Inc. now owns 15,965 shares of the closed-end fund’s stock worth $239,000 after buying an additional 15,950 shares in the last quarter. Institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Company Profile

Special Opportunities Fund, Inc is a close-ended balanced fund of funds launched and managed by Bulldog Investors, LLC. It invests in close-ended funds investing in public equity and fixed income markets. The fund employs a combination of value, opportunistic and special situations strategies to make its investments.