Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Update

Special Opportunities Fund, Inc. (NYSE:SPE) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 33,106 shares, a growth of 34.8% from the December 31st total of 24,554 shares. Based on an average daily trading volume, of 42,341 shares, the short-interest ratio is presently 0.8 days. Approximately 0.3% of the shares of the stock are sold short. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 42,341 shares, the short-interest ratio is presently 0.8 days.

Special Opportunities Fund Price Performance

Shares of NYSE:SPE traded down $0.07 during midday trading on Friday, reaching $14.91. The company’s stock had a trading volume of 28,859 shares, compared to its average volume of 42,219. The business has a 50 day moving average price of $15.10 and a 200 day moving average price of $15.33. Special Opportunities Fund has a 1 year low of $12.72 and a 1 year high of $15.98.

Special Opportunities Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.1087 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%.

Insider Buying and Selling

In other Special Opportunities Fund news, President Andrew Dakos sold 4,098 shares of the stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $14.66, for a total transaction of $60,076.68. Following the sale, the president owned 6,064 shares in the company, valued at approximately $88,898.24. This represents a 40.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.13% of the company’s stock.

Institutional Investors Weigh In On Special Opportunities Fund

Institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. increased its position in Special Opportunities Fund by 21.8% during the 4th quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock worth $290,000 after purchasing an additional 3,539 shares in the last quarter. Scotia Capital Inc. grew its stake in Special Opportunities Fund by 1.2% during the third quarter. Scotia Capital Inc. now owns 107,016 shares of the closed-end fund’s stock worth $1,659,000 after buying an additional 1,270 shares during the period. MAI Capital Management increased its position in shares of Special Opportunities Fund by 38.6% in the third 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 in the last quarter. TrueMark Investments LLC acquired a new stake in shares of Special Opportunities Fund in the third quarter worth $226,000. Finally, Wolverine Asset Management LLC purchased a new position in shares of Special Opportunities Fund in the 3rd quarter valued at $112,000. 35.60% of the stock is currently owned by hedge funds and other institutional investors.

About Special Opportunities Fund

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.