Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Up 34.8% in January

Special Opportunities Fund, Inc. (NYSE:SPE) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 33,106 shares, a growth of 34.8% from the December 31st total of 24,554 shares. Based on an average daily trading volume, of 42,341 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.3% of the shares of the company are sold short. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 42,341 shares, the days-to-cover ratio is currently 0.8 days.

Insider Activity

In related news, President Andrew Dakos sold 4,098 shares of the firm’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $14.66, for a total value of $60,076.68. Following the transaction, the president directly owned 6,064 shares in the company, valued at approximately $88,898.24. This trade represents a 40.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.13% of the company’s stock.

Hedge Funds Weigh In On Special Opportunities Fund

Several large investors have recently bought and sold shares of SPE. MAI Capital Management grew its position in Special Opportunities Fund by 38.6% in the 3rd quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock worth $81,000 after purchasing an additional 1,450 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Special Opportunities Fund in the third quarter valued at about $112,000. TrueMark Investments LLC acquired a new position in Special Opportunities Fund in the 3rd quarter valued at approximately $226,000. NBC Securities Inc. lifted its position in shares of 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 acquiring an additional 3,539 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of Special Opportunities Fund by 19.5% during the 2nd quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock worth $362,000 after acquiring an additional 3,811 shares during the period. 35.60% of the stock is currently owned by institutional investors and hedge funds.

Special Opportunities Fund Trading Down 0.1%

Shares of Special Opportunities Fund stock traded down $0.02 during trading on Tuesday, reaching $14.86. The company’s stock had a trading volume of 39,874 shares, compared to its average volume of 43,948. Special Opportunities Fund has a one year low of $12.72 and a one year high of $15.98. The business’s fifty day moving average price is $15.10 and its 200-day moving average price is $15.32.

Special Opportunities Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.1087 per share. The ex-dividend date is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%.

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.