Special Opportunities Fund (NYSE:SPE) Stock Passes Above 50 Day Moving Average – Should You Sell?

Special Opportunities Fund, Inc. (NYSE:SPE) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.08 and traded as high as $15.75. Special Opportunities Fund shares last traded at $15.67, with a volume of 76,848 shares traded.

Special Opportunities Fund Price Performance

The company’s 50-day simple moving average is $15.08 and its 200-day simple moving average is $14.44.

Special Opportunities Fund Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 22nd were issued a $0.1098 dividend. The ex-dividend date was Tuesday, January 21st. This represents a yield of 8.76%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new position in shares of Special Opportunities Fund during the fourth quarter worth about $45,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Special Opportunities Fund during the 3rd quarter valued at approximately $153,000. Absolute Investment Advisers LLC bought a new position in Special Opportunities Fund during the 4th quarter worth approximately $154,000. Aspiriant LLC acquired a new position in shares of Special Opportunities Fund in the 4th quarter worth approximately $194,000. Finally, Landscape Capital Management L.L.C. boosted its stake in shares of Special Opportunities Fund by 22.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 14,755 shares of the closed-end fund’s stock valued at $205,000 after purchasing an additional 2,723 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.