Special Opportunities Fund, Inc. (NYSE:SPE) Shares Shorted: Short Interest Down 68.9% in October

Special Opportunities Fund, Inc. (NYSE:SPE) saw a significant decline in short interest in the month of October. As of October 30th, there was short interest totaling 5,325 shares, a decline of 68.9% from the October 15th total of 17,140 shares. Based on an average trading volume of 40,332 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Special Opportunities Fund Stock Down 0.2%

Shares of Special Opportunities Fund stock traded down $0.03 on Friday, reaching $12.14. 57,088 shares of the company were exchanged, compared to its average volume of 41,733. Special Opportunities Fund has a 1-year low of $11.95 and a 1-year high of $15.56. The company’s 50-day moving average is $12.64 and its two-hundred day moving average is $13.64.

Special Opportunities Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 22nd will be issued a dividend of $0.1087 per share. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $1.30 annualized dividend and a dividend yield of 10.7%.

Hedge Funds Weigh In On Special Opportunities Fund

Several institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. bought a new stake in shares of Special Opportunities Fund during the third quarter valued at approximately $1,188,000. Moors & Cabot Inc. bought a new position in Special Opportunities Fund in the 3rd quarter worth approximately $307,000. Principle Wealth Partners LLC bought a new position in Special Opportunities Fund in the 3rd quarter worth approximately $126,000. SkyView Investment Advisors LLC acquired a new stake in Special Opportunities Fund in the 2nd quarter valued at approximately $44,000. Finally, Concurrent Investment Advisors LLC increased its position in Special Opportunities Fund by 31.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 94,611 shares of the closed-end fund’s stock valued at $2,687,000 after acquiring an additional 22,399 shares during the period. Institutional investors own 35.60% of the company’s stock.

About Special Opportunities Fund

Special Opportunities Fund, Inc. is a closed-end investment company that seeks total return through income and capital appreciation. Rather than operating a commercial business, it invests in a portfolio of publicly traded securities and other investment opportunities. The fund focuses on special situations, including closed-end funds, business development companies and special purpose acquisition companies. Its adviser, Bulldog Investors, uses an opportunistic approach that may include investing in securities it believes are undervalued or trading below the value of their underlying assets.