Can I recover losses from Spirit of America Energy Fund (MUTF: SOAEX)?

A failure to diversify your account, particularly in volatile sectors like the energy sector, could mean you have a claim to recover your market losses. If you have suffered losses in your account due to a lack of diversification, the Investment Recovery Team at Halling & Cayo may be able to help. Our team represents investors all over the country and only charges a fee if we recover money for you.

Spirit of America Energy Fund (SOAEX) is another fund caught up in the fickle energy market that has seen a relative downturn in this current economic climate. 

Established in 2014, the fund invests in “a combination of securities and other assets of energy, energy related companies and companies which are principally engaged in activities in the energy industry.”

SOAEX saw a loss of 37.56% year-to-date. On March 18, much like many of the other funds in this space, the fund hit a low $8.73 a share. 

Now, the fund is slowly recovering. As of May 11, it was at $13.56  share which looks hopeful compared to where it was two months ago, however looking back a year ago, SOAEX was worth over twice that amount. 

“Investing in our common units involves a high degree of risk,” written on the SOAEX page found on the U.S. Securities and Exchange Commission website, and is a sentiment echoed by our team as well many other experts in the business.

If your broker had you over-exposed to the market, and you suffered significant losses in your account, you may have a claim to recover those losses in a FINRA Arbitration. The Investment Recovery Team at Halling & Cayo, S.C. can help. We take cases all over the country, and we only get paid if we win. Contact us to review your case.