Short Interest in Special Opportunities Fund, Inc. (NYSE:SPE) Decreases By 14.2%

Special Opportunities Fund, Inc. (NYSE:SPE) saw a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 48,688 shares, a drop of 14.2% from the February 12th total of 56,779 shares. Based on an average daily trading volume, of 28,425 shares, the short-interest ratio is presently 1.7 days. Approximately 0.5% of the shares of the company are sold short. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 28,425 shares, the short-interest ratio is presently 1.7 days.

Special Opportunities Fund Price Performance

Shares of NYSE SPE remained flat at $14.07 during midday trading on Tuesday. The stock had a trading volume of 23,609 shares, compared to its average volume of 48,620. Special Opportunities Fund has a 12-month low of $12.72 and a 12-month high of $15.98. The stock has a 50 day moving average price of $14.83 and a 200-day moving average price of $15.17.

Special Opportunities Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.1087 dividend. 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 9.3%.

Insider Activity at Special Opportunities Fund

In other news, President Andrew Dakos sold 4,098 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $14.66, for a total transaction of $60,076.68. Following the completion of the transaction, the president directly owned 6,064 shares of the company’s stock, valued at $88,898.24. The trade was a 40.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Special Opportunities Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MAI Capital Management raised its position in shares of Special Opportunities Fund by 38.6% during the 3rd quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock valued at $81,000 after purchasing an additional 1,450 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of Special Opportunities Fund during the 3rd quarter worth approximately $112,000. TrueMark Investments LLC bought a new position in Special Opportunities Fund during the third quarter valued at $226,000. NBC Securities Inc. raised its position in shares of 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 valued at $290,000 after buying an additional 3,539 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Special Opportunities Fund by 19.5% in the 2nd quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock valued at $362,000 after purchasing an additional 3,811 shares during the last quarter. 35.60% of the stock is 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.