Special Opportunities Fund (NYSE:SPE) Stock Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Shares crossed above its 50‑day moving average — SPE traded as high as $14.30 and last at $14.2610 on volume of 25,497, surpassing the 50‑day MA of $14.24.
• Monthly dividend announced — the fund declared a $0.1087 monthly payout payable June 30 to holders of record June 16, with an annualized yield of about 9.1% (ex‑dividend date June 16).
• Notable institutional activity — institutions own about 35.6% of the stock, with several managers recently adding or initiating stakes (MAI Capital +38.6%, TrueMark +8.7%, NBC Securities +21.8%, plus new positions by Wolverine and Detalus).

Special Opportunities Fund, Inc. (NYSE:SPE - Get Free Report) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $14.24 and traded as high as $14.30. Special Opportunities Fund shares last traded at $14.2610, with a volume of 25,497 shares traded.

Special Opportunities Fund Trading Down 0.3%

The company's fifty day moving average price is $14.24 and its 200 day moving average price is $14.82.

Special Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.1087 dividend. This represents a c) dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend is Tuesday, June 16th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. MAI Capital Management increased its stake 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 bought a new stake in shares of Special Opportunities Fund during the third quarter worth $112,000. Detalus Advisors LLC bought a new stake in shares of Special Opportunities Fund during the first quarter worth $144,000. TrueMark Investments LLC grew its stake 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 worth $223,000 after buying an additional 1,293 shares during the last quarter. Finally, NBC Securities Inc. grew its stake in shares of Special Opportunities Fund by 21.8% during 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 during the last quarter. 35.60% of the stock is owned by institutional investors.

About Special Opportunities Fund

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.

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