Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Down 52.5% in December

Special Opportunities Fund, Inc. (NYSE:SPE) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 7,822 shares, a decrease of 52.5% from the November 30th total of 16,465 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 25,850 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 25,850 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Special Opportunities Fund Price Performance

SPE traded up $0.10 during trading on Friday, reaching $15.55. 59,990 shares of the company were exchanged, compared to its average volume of 25,628. Special Opportunities Fund has a 52 week low of $12.72 and a 52 week high of $15.98. The firm has a 50 day moving average of $15.26 and a 200 day moving average of $15.40.

Special Opportunities Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, December 29th will be given a dividend of $0.70 per share. This is an increase from Special Opportunities Fund’s previous monthly dividend of $0.11. This represents a c) annualized dividend and a dividend yield of 54.0%. The ex-dividend date is Monday, December 29th.

Institutional Trading of Special Opportunities Fund

Several large investors have recently added to or reduced their stakes in SPE. MAI Capital Management boosted its position in Special Opportunities Fund by 38.6% during the 3rd quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock worth $81,000 after acquiring an additional 1,450 shares during the period. Wolverine Asset Management LLC acquired a new stake in Special Opportunities Fund in the third quarter worth approximately $112,000. K2 Principal Fund L.P. boosted its stake in Special Opportunities Fund by 18.8% during the 1st quarter. K2 Principal Fund L.P. now owns 11,878 shares of the closed-end fund’s stock valued at $178,000 after purchasing an additional 1,878 shares in the last quarter. TrueMark Investments LLC acquired a new position in shares of Special Opportunities Fund during the 3rd quarter valued at $226,000. Finally, Cetera Investment Advisers raised its stake in shares of Special Opportunities Fund by 19.5% in the 2nd quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock worth $362,000 after buying an additional 3,811 shares in the last quarter. 35.60% of the stock is currently owned by institutional investors and hedge funds.

Special Opportunities Fund Company Profile

Special Opportunities Fund (NYSE: SPE) is a closed-end management investment company that seeks to deliver attractive total return by investing across corporate capital structures. The fund primarily allocates capital to debt and equity securities of both public and private issuers, with a focus on special situations, distressed credits and event-driven opportunities.

The fund’s flexible, multi-asset strategy allows portfolio managers to shift allocations among high-yield bonds, leveraged loans, convertible securities, preferred stock and equity positions.