Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Down 42.2% in June

Special Opportunities Fund, Inc. (NYSE:SPE) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 7,371 shares, a decline of 42.2% from the May 31st total of 12,762 shares. Based on an average daily volume of 41,864 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Special Opportunities Fund

A number of hedge funds have recently made changes to their positions in SPE. Detalus Advisors LLC bought a new position in Special Opportunities Fund during the 1st quarter worth approximately $144,000. TrueMark Investments LLC boosted its stake in shares of Special Opportunities Fund by 8.7% in the 1st 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 last quarter. First Manhattan CO. LLC. boosted its stake in shares of Special Opportunities Fund by 27.0% in 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 during the last quarter. Cetera Investment Advisers increased its position in shares of Special Opportunities Fund by 19.4% during the fourth quarter. Cetera Investment Advisers now owns 38,001 shares of the closed-end fund’s stock worth $558,000 after buying an additional 6,175 shares during the period. Finally, NBC Securities Inc. raised its stake in 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 buying an additional 3,539 shares during the last quarter. 35.60% of the stock is currently owned by institutional investors.

Special Opportunities Fund Stock Performance

NYSE SPE traded up $0.04 on Wednesday, reaching $13.52. The company had a trading volume of 20,180 shares, compared to its average volume of 34,273. Special Opportunities Fund has a fifty-two week low of $13.14 and a fifty-two week high of $15.98. The business has a 50 day moving average of $13.94 and a two-hundred day moving average of $14.39.

Special Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $0.1087 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date was Tuesday, June 16th.

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.