Special Opportunities Fund (NYSE:SPE) Shares Cross Below 200-Day Moving Average – Time to Sell?

Special Opportunities Fund, Inc. (NYSE:SPE) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.11 and traded as low as $13.32. Special Opportunities Fund shares last traded at $13.4090, with a volume of 17,228 shares traded.

Special Opportunities Fund Stock Performance

The company has a 50 day moving average price of $13.53 and a 200-day moving average price of $14.11.

Special Opportunities Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be issued a $0.1087 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a c) annualized dividend and a yield of 9.7%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Detalus Advisors LLC purchased a new stake in shares of Special Opportunities Fund in the 1st quarter worth about $144,000. TrueMark Investments LLC increased its position in shares of Special Opportunities Fund by 8.7% during the first quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock valued at $223,000 after buying an additional 1,293 shares during the period. NBC Securities Inc. raised its stake in Special Opportunities Fund by 21.8% in the fourth quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock worth $290,000 after buying an additional 3,539 shares in the last quarter. Cetera Investment Advisers raised its stake in Special Opportunities Fund by 19.5% in the second quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock worth $362,000 after buying an additional 3,811 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Special Opportunities Fund by 7.2% in the second quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock worth $483,000 after buying an additional 2,082 shares in the last quarter. 35.60% of the stock is currently owned by institutional investors.

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.