Special Opportunities Fund (NYSE:SPE) Shares Cross Above Fifty Day Moving Average – Here’s Why

Special Opportunities Fund, Inc. (NYSE:SPE) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $14.91 and traded as high as $15.20. Special Opportunities Fund shares last traded at $15.16, with a volume of 67,995 shares.

Special Opportunities Fund Stock Performance

The company’s fifty day moving average is $14.91 and its 200-day moving average is $14.96.

Special Opportunities Fund Announces Dividend

The business also recently declared a dividend, which was paid on Friday, May 30th. Shareholders of record on Wednesday, May 21st were issued a $0.1098 dividend. This represents a yield of 8.65%. The ex-dividend date of this dividend was Tuesday, May 20th.

Institutional Trading of Special Opportunities Fund

A number of hedge funds have recently bought and sold shares of the stock. Shaker Financial Services LLC boosted its holdings in Special Opportunities Fund by 148.0% in the 4th quarter. Shaker Financial Services LLC now owns 157,812 shares of the closed-end fund’s stock valued at $2,309,000 after purchasing an additional 94,176 shares during the period. Advisors Asset Management Inc. bought a new stake in Special Opportunities Fund in the 1st quarter valued at $1,681,000. Scotia Capital Inc. boosted its holdings in Special Opportunities Fund by 10.7% in the 1st quarter. Scotia Capital Inc. now owns 99,215 shares of the closed-end fund’s stock valued at $1,490,000 after purchasing an additional 9,583 shares during the period. Independent Advisor Alliance bought a new stake in Special Opportunities Fund in the 4th quarter valued at $1,380,000. Finally, First Manhattan CO. LLC. boosted its holdings in Special Opportunities Fund by 3.3% in the 1st quarter. First Manhattan CO. LLC. now owns 31,510 shares of the closed-end fund’s stock valued at $473,000 after purchasing an additional 1,010 shares during the period. 35.60% of the stock is owned by institutional investors.

Special Opportunities Fund Company Profile

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.