Special Opportunities Fund (NYSE:SPE) Shares Cross Above 50-Day Moving Average of $14.62

Special Opportunities Fund, Inc. (NYSE:SPE)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $14.62 and traded as high as $14.86. Special Opportunities Fund shares last traded at $14.86, with a volume of 1,500 shares trading hands.

The stock has a 50 day simple moving average of $14.63 and a 200-day simple moving average of $14.16.

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.094 per share. The ex-dividend date is Monday, March 16th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.57%.

A hedge fund recently raised its stake in Special Opportunities Fund stock. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Special Opportunities Fund, Inc. (NYSE:SPE) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,599 shares of the closed-end fund’s stock after purchasing an additional 1,045 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned 0.37% of Special Opportunities Fund worth $435,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 48.87% of the company’s stock.

About Special Opportunities Fund (NYSE:SPE)

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.

Further Reading: Hedge Funds Explained

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