Special Opportunities Fund (NYSE:SPE) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Special Opportunities Fund, Inc. (NYSE:SPE) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.09 and traded as low as $13.77. Special Opportunities Fund shares last traded at $13.85, with a volume of 12,402 shares traded.

Special Opportunities Fund Stock Performance

The firm has a 50 day moving average of $14.66 and a two-hundred day moving average of $15.08.

Special Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.1087 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a yield of 9.5%.

Insider Buying and Selling at Special Opportunities Fund

In other news, President Andrew Dakos sold 4,098 shares of the company’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $14.66, for a total value of $60,076.68. Following the completion of the transaction, the president owned 6,064 shares in the company, valued at approximately $88,898.24. This represents a 40.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.13% of the company’s stock.

Institutional Investors Weigh In On Special Opportunities Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MAI Capital Management lifted its position in Special Opportunities Fund by 38.6% in the third quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock valued at $81,000 after acquiring an additional 1,450 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Special Opportunities Fund during the third quarter worth about $112,000. TrueMark Investments LLC purchased a new stake in shares of Special Opportunities Fund in the 3rd quarter valued at about $226,000. NBC Securities Inc. lifted its holdings in shares of Special Opportunities Fund by 21.8% in the 4th quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock valued at $290,000 after purchasing an additional 3,539 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Special Opportunities Fund by 19.5% in the 2nd quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock valued at $362,000 after purchasing an additional 3,811 shares during the period. 35.60% of the stock is currently owned by institutional investors and hedge funds.

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.