Special Opportunities Fund (NYSE:SPE) Stock Price Breaks Below 200 Day Moving Average – Should You Sell?

Shares of Special Opportunities Fund, Inc. (NYSE:SPE) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $13.52 and traded as low as $12.21. Special Opportunities Fund shares last traded at $12.2760, with a volume of 87,593 shares traded.

Special Opportunities Fund Stock Down 0.0%

The company has a fifty day simple moving average of $13.02 and a two-hundred day simple moving average of $13.51.

Special Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 22nd will be given a dividend of $0.1087 per share. The ex-dividend date is Tuesday, December 22nd. This represents a $1.30 annualized dividend and a yield of 10.7%.

Hedge Funds Weigh In On Special Opportunities Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Concurrent Investment Advisors LLC grew its position in Special Opportunities Fund by 31.0% during the second quarter. Concurrent Investment Advisors LLC now owns 94,611 shares of the closed-end fund’s stock valued at $2,687,000 after acquiring an additional 22,399 shares during the period. Patron Partners LLC purchased a new position in shares of Special Opportunities Fund in the 2nd quarter worth about $192,000. Detalus Advisors LLC acquired a new position in shares of Special Opportunities Fund in the 1st quarter valued at about $144,000. Global Retirement Partners LLC acquired a new position in shares of Special Opportunities Fund in the 2nd quarter valued at about $50,000. Finally, Susquehanna International Group LLP lifted its stake in shares of Special Opportunities Fund by 30.6% in the 2nd quarter. Susquehanna International Group LLP now owns 15,435 shares of the closed-end fund’s stock valued at $208,000 after purchasing an additional 3,614 shares in the last quarter. Institutional investors and hedge funds own 35.60% of the company’s stock.

About Special Opportunities Fund

Special Opportunities Fund, Inc is a non-diversified closed-end investment company listed on the New York Stock Exchange under the symbol SPE. The fund seeks to provide investors with total return through a flexible, opportunistic investment strategy rather than focusing on a single industry or geographic market.

The fund primarily invests in other closed-end funds and may also invest in business development companies, special purpose acquisition companies, and other publicly traded securities.