Special Opportunities Fund (NYSE:SPE) Shares Cross Below 200 Day Moving Average - Here's Why

Special Opportunities Fund, Inc. (NYSE:SPE - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.88 and traded as low as $14.88. Special Opportunities Fund shares last traded at $15.05, with a volume of 37,974 shares changing hands.

Special Opportunities Fund Stock Performance

The company's 50 day simple moving average is $15.23 and its two-hundred day simple moving average is $14.90.

Special Opportunities Fund Announces Dividend

The business also recently announced a dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 22nd were issued a $0.1098 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a yield of 8.76%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Special Opportunities Fund in the 4th quarter valued at $44,000. Global Retirement Partners LLC acquired a new position in Special Opportunities Fund in the 4th quarter valued at about $45,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Special Opportunities Fund by 41.7% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 15,542 shares of the closed-end fund's stock worth $227,000 after purchasing an additional 4,570 shares during the period. Scotia Capital Inc. lifted its position in shares of Special Opportunities Fund by 6.1% during the fourth quarter. Scotia Capital Inc. now owns 89,632 shares of the closed-end fund's stock worth $1,311,000 after purchasing an additional 5,141 shares in the last quarter. Finally, K2 Principal Fund L.P. purchased a new position in shares of Special Opportunities Fund in the fourth quarter valued at approximately $146,000. 35.60% of the stock is currently owned by institutional investors and hedge funds.

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.