Special Opportunities Fund (NYSE:SPE) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Special Opportunities Fund, Inc. (NYSE:SPE)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $15.11 and traded as high as $15.66. Special Opportunities Fund shares last traded at $15.51, with a volume of 48,602 shares.

Special Opportunities Fund Price Performance

The stock has a 50 day moving average of $15.11 and a 200 day moving average of $14.53.

Special Opportunities Fund Dividend Announcement

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

Institutional Trading of Special Opportunities Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPE. Independent Advisor Alliance acquired a new stake in shares of Special Opportunities Fund in the 4th quarter valued at about $1,380,000. Shaker Financial Services LLC grew its stake in shares of 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 worth $2,309,000 after acquiring an additional 94,176 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Special Opportunities Fund in the 4th quarter valued at about $453,000. Jefferies Financial Group Inc. purchased a new stake in shares of Special Opportunities Fund during the fourth quarter valued at approximately $439,000. Finally, CF Capital LLC bought a new position in Special Opportunities Fund during the fourth quarter valued at about $402,000. Institutional investors and hedge funds own 35.60% of the company’s stock.

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.