Special Opportunities Fund (NYSE:SPE) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Special Opportunities Fund, Inc. (NYSE:SPE) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.37 and traded as low as $15.04. Special Opportunities Fund shares last traded at $15.07, with a volume of 13,434 shares trading hands.

Special Opportunities Fund Stock Down 1.5%

The firm’s 50 day simple moving average is $15.44 and its 200-day simple moving average is $15.37.

Special Opportunities Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a dividend of $0.1098 per share. This represents a c) dividend on an annualized basis and a yield of 8.7%. The ex-dividend date is Tuesday, December 16th.

Institutional Investors Weigh In On Special Opportunities Fund

Several large investors have recently modified their holdings of SPE. Scotia Capital Inc. increased its holdings in shares of Special Opportunities Fund by 1.2% in the 3rd quarter. Scotia Capital Inc. now owns 107,016 shares of the closed-end fund’s stock valued at $1,659,000 after acquiring an additional 1,270 shares during the period. MAI Capital Management grew its position in 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 worth $81,000 after purchasing an additional 1,450 shares during the last quarter. TrueMark Investments LLC acquired a new position in Special Opportunities Fund in the third quarter valued at $226,000. Wolverine Asset Management LLC purchased a new stake in shares of Special Opportunities Fund in the third quarter valued at about $112,000. Finally, Shaker Financial Services LLC raised its holdings in shares of Special Opportunities Fund by 33.0% in the third quarter. Shaker Financial Services LLC now owns 354,678 shares of the closed-end fund’s stock valued at $5,498,000 after buying an additional 87,950 shares during the last quarter. 35.60% of the stock is owned by institutional investors and hedge funds.

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.