Special Opportunities Fund (NYSE:SPE) Stock Price Crosses Below 200 Day Moving Average – Here’s What Happened

Shares of Special Opportunities Fund, Inc. (NYSE:SPE) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.36 and traded as low as $14.82. Special Opportunities Fund shares last traded at $14.8690, with a volume of 100,483 shares trading hands.

Special Opportunities Fund Stock Down 2.2%

The company has a fifty day simple moving average of $15.13 and a 200 day simple moving average of $15.36.

Special Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.1087 per share. This represents a c) annualized dividend and a yield of 8.8%. The ex-dividend date of this dividend is Tuesday, March 17th.

Insiders Place Their Bets

In other Special Opportunities Fund news, President Andrew Dakos sold 4,098 shares of Special Opportunities Fund stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $14.66, for a total value of $60,076.68. Following the completion of the transaction, the president directly owned 6,064 shares of the company’s stock, valued at approximately $88,898.24. The trade was a 40.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.13% of the company’s stock.

Institutional Investors Weigh In On Special Opportunities Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Shaker Financial Services LLC lifted its stake in shares of Special Opportunities Fund by 246.0% in the 2nd quarter. Shaker Financial Services LLC now owns 266,728 shares of the closed-end fund’s stock worth $4,132,000 after purchasing an additional 189,630 shares during the period. TrueMark Investments LLC purchased a new stake in Special Opportunities Fund during the third quarter valued at approximately $226,000. Wolverine Asset Management LLC bought a new position in Special Opportunities Fund in the third quarter worth approximately $112,000. Scotia Capital Inc. raised its position in Special Opportunities Fund by 6.6% in the second quarter. Scotia Capital Inc. now owns 105,746 shares of the closed-end fund’s stock worth $1,638,000 after acquiring an additional 6,531 shares during the period. Finally, Cetera Investment Advisers boosted its stake 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 worth $362,000 after acquiring an additional 3,811 shares during the last quarter. Institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Company Profile

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.