Raymond James & Associates Reduces Position in Special Opportunities Fund, Inc. (NYSE:SPE)

Raymond James & Associates trimmed its holdings in Special Opportunities Fund, Inc. (NYSE:SPE) by 18.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 24,344 shares of the closed-end fund’s stock after selling 5,599 shares during the period. Raymond James & Associates’ holdings in Special Opportunities Fund were worth $289,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Alpine Global Management LLC bought a new stake in shares of Special Opportunities Fund in the third quarter worth approximately $223,000. Sowell Financial Services LLC bought a new position in Special Opportunities Fund during the third quarter valued at approximately $230,000. NBC Securities Inc. purchased a new stake in Special Opportunities Fund in the third quarter worth approximately $160,000. RPO LLC bought a new stake in Special Opportunities Fund in the 3rd quarter worth approximately $188,000. Finally, Scotia Capital Inc. grew its position in Special Opportunities Fund by 6.9% in the 3rd quarter. Scotia Capital Inc. now owns 88,007 shares of the closed-end fund’s stock worth $962,000 after purchasing an additional 5,698 shares during the period. Hedge funds and other institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Price Performance

NYSE SPE opened at $12.45 on Tuesday. Special Opportunities Fund, Inc. has a 1-year low of $10.26 and a 1-year high of $12.73. The business’s fifty day moving average price is $12.41 and its 200-day moving average price is $11.83.

Special Opportunities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be issued a $0.0954 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 9.20%. The ex-dividend date of this dividend is Monday, May 20th.

About Special Opportunities Fund

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.