Special Opportunities Fund (NYSE:SPE) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Special Opportunities Fund, Inc. (NYSE:SPE)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.65 and traded as low as $14.02. Special Opportunities Fund shares last traded at $14.0660, with a volume of 39,845 shares changing hands.

Special Opportunities Fund Trading Up 0.3%

The firm has a fifty day simple moving average of $14.08 and a 200-day simple moving average of $14.65.

Special Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.1087 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a c) annualized dividend and a yield of 9.3%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SPE. Detalus Advisors LLC bought a new position in Special Opportunities Fund during the 1st quarter worth $144,000. First Manhattan CO. LLC. increased its position in Special Opportunities Fund by 27.0% during the 4th quarter. First Manhattan CO. LLC. now owns 40,010 shares of the closed-end fund’s stock worth $620,000 after buying an additional 8,500 shares during the period. Cetera Investment Advisers increased its position in Special Opportunities Fund by 19.4% during the 4th quarter. Cetera Investment Advisers now owns 38,001 shares of the closed-end fund’s stock worth $558,000 after buying an additional 6,175 shares during the period. NBC Securities Inc. increased its position in 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 worth $290,000 after buying an additional 3,539 shares during the period. Finally, Raymond James Financial Inc. increased its position in 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 buying an additional 2,082 shares during the period. 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.