Special Opportunities Fund, Inc. (NYSE:SPE) Sees Large Growth in Short Interest

Special Opportunities Fund, Inc. (NYSE:SPE) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 20,043 shares, a growth of 136.2% from the June 30th total of 8,487 shares. Based on an average trading volume of 35,434 shares, the short-interest ratio is currently 0.6 days. Approximately 0.2% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SPE. Detalus Advisors LLC bought a new stake in Special Opportunities Fund in the first quarter worth $144,000. First Manhattan CO. LLC. increased its stake in Special Opportunities Fund by 27.0% during the 4th quarter. First Manhattan CO. LLC. now owns 40,010 shares of the closed-end fund’s stock valued at $620,000 after purchasing an additional 8,500 shares in the last quarter. Cetera Investment Advisers increased its stake in Special Opportunities Fund by 19.4% during the 4th quarter. Cetera Investment Advisers now owns 38,001 shares of the closed-end fund’s stock valued at $558,000 after purchasing an additional 6,175 shares in the last quarter. NBC Securities Inc. raised its holdings in Special Opportunities Fund by 21.8% in the fourth quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock worth $290,000 after buying an additional 3,539 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Special Opportunities Fund by 7.2% in the second quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock worth $483,000 after buying an additional 2,082 shares during the last quarter. Hedge funds and other institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Stock Up 1.8%

Shares of NYSE SPE opened at $13.32 on Tuesday. The company has a 50 day simple moving average of $13.62 and a two-hundred day simple moving average of $14.18. Special Opportunities Fund has a fifty-two week low of $13.02 and a fifty-two week high of $15.98.

Special Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be given a dividend of $0.1087 per share. This represents a c) dividend on an annualized basis and a yield of 9.8%. The ex-dividend date of this dividend is Tuesday, September 22nd.

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.