Special Opportunities Fund (NYSE:SPE) Shares Pass Above Fifty Day Moving Average of $12.39

Special Opportunities Fund, Inc. (NYSE:SPE) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $12.39 and traded as high as $12.60. Special Opportunities Fund shares last traded at $12.35, with a volume of 11,455 shares traded.

Special Opportunities Fund Trading Up 0.9 %

The business’s fifty day moving average is $12.39 and its 200 day moving average is $11.78.

Special Opportunities Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be issued a $0.0954 dividend. This represents a $1.14 annualized dividend and a yield of 9.27%. The ex-dividend date is Monday, May 20th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in Special Opportunities Fund during the 3rd quarter valued at about $160,000. RPO LLC acquired a new position in shares of Special Opportunities Fund during the 3rd quarter worth approximately $188,000. Sowell Financial Services LLC purchased a new stake in Special Opportunities Fund in the 3rd quarter valued at approximately $230,000. Alpine Global Management LLC acquired a new stake in Special Opportunities Fund during the 3rd quarter valued at $223,000. Finally, Scotia Capital Inc. increased its position in Special Opportunities Fund by 6.9% during the third quarter. Scotia Capital Inc. now owns 88,007 shares of the closed-end fund’s stock worth $962,000 after buying an additional 5,698 shares in the last quarter. Institutional investors and hedge funds own 35.60% of the company’s stock.

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.