Special Opportunities Fund (NYSE:SPE) Stock Price Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• The stock price of Special Opportunities Fund (NYSE:SPE) recently crossed above its 50-day moving average of $15.31, trading at $15.54.
• The fund announced a monthly dividend of $0.1098, equating to an annual yield of 8.48% for shareholders of record as of September 16th.
• Institutional investors hold 35.60% of the fund's shares, with several recent acquisitions indicating increasing interest in the fund.

Special Opportunities Fund, Inc. (NYSE:SPE - )'s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $15.31 and traded as high as $15.60. Special Opportunities Fund shares last traded at $15.54, with a volume of 8,733 shares traded.

Special Opportunities Fund Price Performance

The stock's 50-day simple moving average is $15.31 and its 200-day simple moving average is $15.06.

Special Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.1098 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 8.48%. The ex-dividend date is Tuesday, September 16th.

Institutional Investors Weigh In On Special Opportunities Fund

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Special Opportunities Fund in the 4th quarter worth about $44,000. K2 Principal Fund L.P. bought a new position in shares of Special Opportunities Fund during the 4th quarter valued at approximately $146,000. NBC Securities Inc. grew its position in shares of Special Opportunities Fund by 106,333.3% during the 1st quarter. NBC Securities Inc. now owns 15,965 shares of the closed-end fund's stock valued at $239,000 after acquiring an additional 15,950 shares during the period. Cetera Investment Advisers bought a new position in shares of Special Opportunities Fund during the 1st quarter valued at approximately $293,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Special Opportunities Fund during the 1st quarter valued at approximately $363,000. 35.60% of the stock is owned by institutional investors.

About Special Opportunities Fund

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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