Special Opportunities Fund (NYSE:SPE) Shares Pass Above Fifty Day Moving Average of $14.22

Special Opportunities Fund, Inc. (NYSE:SPE) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $14.22 and traded as high as $14.52. Special Opportunities Fund shares last traded at $14.52, with a volume of 600 shares changing hands.

The company’s fifty day moving average price is $14.23 and its 200-day moving average price is $13.91.

A number of hedge funds have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. grew its position in Special Opportunities Fund by 3.4% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 31,599 shares of the closed-end fund’s stock worth $435,000 after purchasing an additional 1,045 shares during the last quarter. Scotia Capital Inc. increased its stake in Special Opportunities Fund by 46.0% during the 2nd quarter. Scotia Capital Inc. now owns 50,702 shares of the closed-end fund’s stock valued at $697,000 after purchasing an additional 15,977 shares in the last quarter. Finally, Ancora Advisors LLC raised its holdings in shares of Special Opportunities Fund by 3.0% in the second quarter. Ancora Advisors LLC now owns 101,568 shares of the closed-end fund’s stock worth $1,397,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 48.87% of the company’s stock.

Special Opportunities Fund Company Profile (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.

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