Short Interest in Special Opportunities Fund, Inc. (NYSE:SPE) Increases By 213.9%

Special Opportunities Fund, Inc. (NYSE:SPE) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totaling 24,554 shares, an increase of 213.9% from the December 15th total of 7,822 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 50,608 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 50,608 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the shares of the stock are short sold.

Special Opportunities Fund Stock Performance

NYSE:SPE traded up $0.07 during trading hours on Tuesday, reaching $15.05. The stock had a trading volume of 34,506 shares, compared to its average volume of 37,132. Special Opportunities Fund has a 52 week low of $12.72 and a 52 week high of $15.98. The company has a 50 day moving average price of $15.15 and a two-hundred day moving average price of $15.38.

Special Opportunities Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.1087 dividend. This represents a c) annualized dividend and a yield of 8.7%. The ex-dividend date is Tuesday, March 17th.

Insider Buying and Selling at Special Opportunities Fund

In other news, President Andrew Dakos sold 4,098 shares of Special Opportunities Fund stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $14.66, for a total value of $60,076.68. Following the sale, the president directly owned 6,064 shares of the company’s stock, valued at approximately $88,898.24. The trade was a 40.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Special Opportunities Fund

Several institutional investors have recently bought and sold shares of SPE. Scotia Capital Inc. grew its stake in shares of Special Opportunities Fund by 1.2% in the 3rd 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 in the last quarter. MAI Capital Management lifted its holdings in shares of Special Opportunities Fund by 38.6% in the 3rd quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock valued at $81,000 after acquiring an additional 1,450 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Special Opportunities Fund by 8.1% in the second quarter. Envestnet Asset Management Inc. now owns 26,167 shares of the closed-end fund’s stock worth $405,000 after acquiring an additional 1,970 shares in the last quarter. Raymond James Financial Inc. increased its stake in Special Opportunities Fund by 7.2% during the second quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock worth $483,000 after acquiring an additional 2,082 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Special Opportunities Fund by 2.0% during the second quarter. Advisors Asset Management Inc. now owns 114,199 shares of the closed-end fund’s stock worth $1,769,000 after acquiring an additional 2,294 shares during the last quarter. Institutional investors 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.