Special Opportunities Fund (NYSE:SPE) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

Special Opportunities Fund, Inc. (NYSE:SPE) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.18 and traded as low as $13.02. Special Opportunities Fund shares last traded at $13.10, with a volume of 52,179 shares traded.

Special Opportunities Fund Trading Down 0.2%

The company has a 50 day moving average of $13.61 and a two-hundred day moving average of $14.17.

Special Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be issued a $0.1087 dividend. This represents a c) dividend on an annualized basis and a yield of 10.0%. The ex-dividend date of this dividend is Tuesday, September 22nd.

Hedge Funds Weigh In On Special Opportunities Fund

Several hedge funds have recently made changes to their positions in SPE. Detalus Advisors LLC bought a new stake in shares of Special Opportunities Fund in the 1st quarter worth approximately $144,000. TrueMark Investments LLC increased its holdings in shares of Special Opportunities Fund by 8.7% in the first quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock valued at $223,000 after buying an additional 1,293 shares in the last quarter. NBC Securities Inc. lifted its position 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 during the last quarter. Cetera Investment Advisers lifted its position 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 during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of Special Opportunities Fund by 7.2% during the 2nd quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock worth $483,000 after acquiring an additional 2,082 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.