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

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

Hedge Funds Weigh In On Special Opportunities Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Detalus Advisors LLC acquired a new stake in Special Opportunities Fund in the first quarter valued at approximately $144,000. TrueMark Investments LLC raised its stake in shares of Special Opportunities Fund by 8.7% during the first quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock valued at $223,000 after purchasing an additional 1,293 shares during the period. NBC Securities Inc. lifted its position in shares of Special Opportunities Fund by 21.8% during the fourth quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock worth $290,000 after purchasing an additional 3,539 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Special Opportunities Fund by 19.5% during the second quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock worth $362,000 after purchasing an additional 3,811 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of 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 valued at $483,000 after purchasing an additional 2,082 shares during the period. 35.60% of the stock is owned by institutional investors and hedge funds.

Special Opportunities Fund Trading Up 0.4%

NYSE:SPE traded up $0.05 during mid-day trading on Thursday, hitting $13.11. The company had a trading volume of 18,813 shares, compared to its average volume of 42,776. The business has a fifty day simple moving average of $13.59 and a 200-day simple moving average of $14.16. Special Opportunities Fund has a 1 year low of $13.02 and a 1 year high of $15.98.

Special Opportunities Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be paid a $0.1087 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%.

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.