Special Opportunities Fund, Inc. (NYSE:SPE)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $14.21 and last traded at $14.35, with a volume of 8200 shares trading hands. The stock had previously closed at $14.50.

A hedge fund recently raised its stake in Special Opportunities Fund stock. Sit Investment Associates Inc. increased its stake in Special Opportunities Fund, Inc. (NYSE:SPE) by 22.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 567,125 shares of the closed-end fund’s stock after purchasing an additional 104,919 shares during the quarter. Sit Investment Associates Inc. owned 6.66% of Special Opportunities Fund worth $8,518,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 46.46% 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: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

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