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

Special Opportunities Fund, Inc. (NYSE:SPE)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.09 and traded as low as $13.77. Special Opportunities Fund shares last traded at $13.85, with a volume of 12,402 shares changing hands.

Special Opportunities Fund Trading Up 0.1%

The company has a fifty day moving average of $14.71 and a 200-day moving average of $15.09.

Special Opportunities Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.1087 dividend. This represents a c) annualized dividend and a yield of 9.4%. The ex-dividend date of this dividend is Tuesday, March 17th.

Insider Buying and Selling at Special Opportunities Fund

In other news, President Andrew Dakos sold 4,098 shares of the firm’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $14.66, for a total transaction of $60,076.68. Following the transaction, the president owned 6,064 shares in the company, valued at approximately $88,898.24. This trade represents a 40.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. MAI Capital Management lifted its position in shares of 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. Wolverine Asset Management LLC acquired a new stake in Special Opportunities Fund in the 3rd quarter valued at approximately $112,000. TrueMark Investments LLC acquired a new stake in Special Opportunities Fund in the 3rd quarter valued at approximately $226,000. NBC Securities Inc. increased its position in Special Opportunities Fund by 21.8% in the 4th quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock worth $290,000 after buying an additional 3,539 shares during the period. Finally, Cetera Investment Advisers increased its position in Special Opportunities Fund by 19.5% in the 2nd quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock worth $362,000 after buying an additional 3,811 shares during the period. Institutional investors 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.