Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Update

Special Opportunities Fund, Inc. (NYSE:SPE) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 24,554 shares, an increase of 213.9% from the December 15th total of 7,822 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 50,608 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 50,608 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the shares of the company are sold short.

Special Opportunities Fund Price Performance

Special Opportunities Fund stock traded up $0.06 during midday trading on Thursday, reaching $15.17. The company’s stock had a trading volume of 3,224 shares, compared to its average volume of 35,167. Special Opportunities Fund has a fifty-two week low of $12.72 and a fifty-two week high of $15.98. The stock’s 50 day simple moving average is $15.14 and its 200 day simple moving average is $15.37.

Special Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.1087 dividend. The ex-dividend date is Tuesday, March 17th. This represents a c) annualized dividend and a dividend yield of 8.6%.

Insider Transactions at Special Opportunities Fund

In other Special Opportunities Fund news, President Andrew Dakos sold 4,098 shares of Special Opportunities Fund stock in a transaction that occurred on Tuesday, December 30th. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MAI Capital Management boosted its stake 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 worth $81,000 after acquiring an additional 1,450 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in Special Opportunities Fund during the third quarter worth $112,000. TrueMark Investments LLC acquired a new position in Special Opportunities Fund during the third quarter worth $226,000. Cetera Investment Advisers boosted its position in 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, Envestnet Asset Management Inc. boosted its position in Special Opportunities Fund by 8.1% during the second quarter. Envestnet Asset Management Inc. now owns 26,167 shares of the closed-end fund’s stock worth $405,000 after purchasing an additional 1,970 shares in the last quarter. 35.60% of the stock is currently owned by institutional investors and hedge funds.

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.