Special Opportunities Fund (NYSE:SPE) Stock Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Price broke below its 200‑day moving average: Special Opportunities Fund (SPE) traded as low as $14.39 and last at $14.45, under the 200‑day MA of $14.79 (50‑day MA $14.19) on volume of 40,299 shares.
• The fund declared a monthly dividend of $0.1087 payable June 30 (record/ex‑dividend date June 16), representing a ~9.0% annualized yield.
• Institutional interest is material—about 35.6% of shares are held by hedge funds and other institutions, with several firms recently adding or initiating positions; the closed‑end fund invests across capital structures with a focus on special situations and distressed credits.

Special Opportunities Fund, Inc. (NYSE:SPE - Get Free Report)'s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.79 and traded as low as $14.39. Special Opportunities Fund shares last traded at $14.45, with a volume of 40,299 shares traded.

Special Opportunities Fund Price Performance

The company's 50 day moving average price is $14.19 and its two-hundred day moving average price is $14.79.

Special Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.1087 dividend. This represents a c) annualized dividend and a dividend yield of 9.0%. The ex-dividend date of this dividend is Tuesday, June 16th.

Hedge Funds Weigh In On Special Opportunities Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. MAI Capital Management lifted its stake in shares of 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 worth $81,000 after buying an additional 1,450 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in shares of Special Opportunities Fund in the third quarter worth about $112,000. Detalus Advisors LLC purchased a new position in shares of Special Opportunities Fund in the first quarter worth about $144,000. TrueMark Investments LLC purchased a new position in shares of Special Opportunities Fund in the third quarter worth about $226,000. Finally, NBC Securities Inc. lifted its stake in shares of 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. 35.60% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.