Special Opportunities Fund (NYSE:SPE) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Special Opportunities Fund, Inc. (NYSE:SPE) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.12 and traded as high as $15.52. Special Opportunities Fund shares last traded at $15.28, with a volume of 19,479 shares.

Special Opportunities Fund Stock Performance

The firm has a 50 day moving average of $15.14 and a 200-day moving average of $14.63.

Special Opportunities Fund Dividend Announcement

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

Hedge Funds Weigh In On Special Opportunities Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. increased its stake in Special Opportunities Fund by 22.6% during the third quarter. Landscape Capital Management L.L.C. now owns 14,755 shares of the closed-end fund’s stock valued at $205,000 after acquiring an additional 2,723 shares during the period. Quarry LP bought a new position in Special Opportunities Fund during the fourth quarter valued at about $44,000. Global Retirement Partners LLC bought a new position in Special Opportunities Fund during the fourth 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 valued at $227,000 after acquiring an additional 4,570 shares during the period. Finally, Shaker Financial Services LLC grew its stake in shares of Special Opportunities Fund by 8.0% in the 3rd quarter. Shaker Financial Services LLC now owns 63,636 shares of the closed-end fund’s stock valued at $885,000 after purchasing an additional 4,713 shares during the period. 35.60% of the stock is currently 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.