Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Down 50.5% in May

Special Opportunities Fund, Inc. (NYSE:SPE) was the target of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 12,762 shares, a decrease of 50.5% from the May 14th total of 25,796 shares. Based on an average daily trading volume, of 30,320 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Special Opportunities Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Detalus Advisors LLC bought a new position in shares of Special Opportunities Fund during the first quarter worth $144,000. TrueMark Investments LLC raised its stake in shares of Special Opportunities Fund by 8.7% in the first quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock valued at $223,000 after acquiring an additional 1,293 shares during the period. First Manhattan CO. LLC. increased its stake in 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 worth $620,000 after buying an additional 8,500 shares during the period. Cetera Investment Advisers increased its stake in Special Opportunities Fund by 19.4% in the 4th 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. increased its stake in Special Opportunities Fund by 21.8% in the 4th 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 period. Institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Stock Performance

SPE stock remained flat at $13.61 during midday trading on Friday. 18,825 shares of the company’s stock were exchanged, compared to its average volume of 34,876. Special Opportunities Fund has a twelve month low of $13.43 and a twelve month high of $15.98. The stock’s 50-day moving average is $14.09 and its 200-day moving average is $14.56.

Special Opportunities Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a $0.1087 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date is Tuesday, June 16th.

Special Opportunities Fund Company Profile

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.