Special Opportunities Fund (NYSE:SPE) Stock Price Breaks Below Two Hundred Day Moving Average – Should You 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 $13.63 and traded as low as $12.59. Special Opportunities Fund shares last traded at $12.65, with a volume of 50,183 shares.

Special Opportunities Fund Stock Down 0.2%

The company has a 50 day simple moving average of $13.23 and a 200-day simple moving average of $13.61.

Special Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 22nd will be paid a dividend of $0.1087 per share. The ex-dividend date is Tuesday, December 22nd. This represents a $1.30 dividend on an annualized basis and a yield of 10.4%.

Institutional Trading of Special Opportunities Fund

Several institutional investors have recently made changes to their positions in SPE. SkyView Investment Advisors LLC purchased a new stake in shares of Special Opportunities Fund during the 2nd quarter valued at $44,000. 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 buying an additional 22,399 shares during the period. Susquehanna International Group LLP increased its holdings in Special Opportunities Fund by 30.6% during the second quarter. Susquehanna International Group LLP now owns 15,435 shares of the closed-end fund’s stock worth $208,000 after buying an additional 3,614 shares during the last quarter. Patron Partners LLC purchased a new stake in Special Opportunities Fund during the second quarter worth about $192,000. Finally, Global Retirement Partners LLC purchased a new stake in Special Opportunities Fund during the second quarter worth about $50,000. Institutional investors 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.