Special Opportunities Fund (NYSE:SPE) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

Special Opportunities Fund, Inc. (NYSE:SPE)’s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $14.93 and traded as low as $14.34. Special Opportunities Fund shares last traded at $14.58, with a volume of 82,321 shares traded.

Special Opportunities Fund Stock Up 0.2 %

The stock’s fifty day simple moving average is $14.93 and its two-hundred day simple moving average is $14.07.

Special Opportunities Fund Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd were given a dividend of $0.0954 per share. This represents a yield of 7.93%. The ex-dividend date was Tuesday, October 22nd.

Hedge Funds Weigh In On Special Opportunities Fund

A number of large investors have recently modified their holdings of SPE. Landscape Capital Management L.L.C. increased its position in Special Opportunities Fund by 22.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 14,755 shares of the closed-end fund’s stock worth $205,000 after purchasing an additional 2,723 shares in the last quarter. Shaker Financial Services LLC grew its stake in Special Opportunities Fund by 8.0% during the third quarter. Shaker Financial Services LLC now owns 63,636 shares of the closed-end fund’s stock worth $885,000 after buying an additional 4,713 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Special Opportunities Fund in the third quarter worth $153,000. 35.60% of the stock is currently owned by hedge funds and other institutional investors.

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.