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 decline in short interest in December. As of December 15th, there was short interest totaling 7,822 shares, a decline of 52.5% from the November 30th total of 16,465 shares. 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 stock are short sold. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 25,850 shares, the days-to-cover ratio is currently 0.3 days.

Special Opportunities Fund Price Performance

Shares of NYSE SPE traded up $0.10 during trading on Friday, hitting $15.55. The company had a trading volume of 59,990 shares, 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 business’s 50-day moving average is $15.26 and its 200 day moving average is $15.40.

Special Opportunities Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, December 29th will be issued a dividend of $0.70 per share. This is a positive change 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 of this dividend is Monday, December 29th.

Institutional Trading of Special Opportunities Fund

Several institutional investors and hedge funds have recently bought and sold shares of SPE. Shaker Financial Services LLC lifted its stake in Special Opportunities Fund by 246.0% during the second quarter. Shaker Financial Services LLC now owns 266,728 shares of the closed-end fund’s stock valued at $4,132,000 after buying an additional 189,630 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Special Opportunities Fund in the first quarter valued at $1,681,000. TrueMark Investments LLC acquired a new stake in shares of Special Opportunities Fund in the third quarter worth $226,000. Wolverine Asset Management LLC purchased a new stake in Special Opportunities Fund in the 3rd quarter worth about $112,000. Finally, Scotia Capital Inc. grew its stake in Special Opportunities Fund by 6.6% during the 2nd quarter. Scotia Capital Inc. now owns 105,746 shares of the closed-end fund’s stock valued at $1,638,000 after acquiring an additional 6,531 shares in the last quarter. Institutional investors and hedge funds own 35.60% of the company’s stock.

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.