Special Opportunities Fund (NYSE:SPE) Share Price Passes Above Fifty Day Moving Average - Should You Sell?

Key Points

• The Special Opportunities Fund (NYSE:SPE) has surpassed its 50-day moving average of $15.55, trading at $15.59, indicating potential upward momentum.
• The fund recently declared a monthly dividend of $0.1098, representing an annualized dividend yield of 8.5%.
• Institutional investors have notably increased their holdings in the Special Opportunities Fund, with 35.60% of the stock currently held by such entities.

Special Opportunities Fund, Inc. (NYSE:SPE - ) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $15.55 and traded as high as $15.70. Special Opportunities Fund shares last traded at $15.59, with a volume of 17,092 shares changing hands.

Special Opportunities Fund Stock Down 0.4%

The business has a fifty day moving average of $15.55 and a 200 day moving average of $15.13.

Special Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were issued a $0.1098 dividend. This represents a c) annualized dividend and a dividend yield of 8.5%. The ex-dividend date was Tuesday, August 19th.

Institutional Investors Weigh In On Special Opportunities Fund

Several large investors have recently modified their holdings of the business. Raymond James Financial Inc. increased its holdings in shares of 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 acquiring an additional 2,082 shares in the last quarter. Scotia Capital Inc. increased its holdings in shares of Special Opportunities Fund by 6.6% in the second quarter. Scotia Capital Inc. now owns 105,746 shares of the closed-end fund's stock worth $1,638,000 after acquiring an additional 6,531 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Special Opportunities Fund by 2.0% in the second quarter. Advisors Asset Management Inc. now owns 114,199 shares of the closed-end fund's stock worth $1,769,000 after acquiring an additional 2,294 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of 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 acquiring an additional 3,811 shares in the last quarter. Finally, Shaker Financial Services LLC increased its holdings in shares of Special Opportunities Fund by 246.0% in the second quarter. Shaker Financial Services LLC now owns 266,728 shares of the closed-end fund's stock worth $4,132,000 after acquiring an additional 189,630 shares in the last quarter. 35.60% of the stock is currently owned by 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.

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