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

Special Opportunities Fund, Inc. (NYSE:SPE) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 25,796 shares, a decrease of 44.6% from the April 30th total of 46,528 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 34,469 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of Special Opportunities Fund

Hedge funds have recently added to or reduced their stakes in the stock. Scotia Capital Inc. grew its stake in shares of Special Opportunities Fund by 1.2% during the 3rd quarter. Scotia Capital Inc. now owns 107,016 shares of the closed-end fund’s stock worth $1,659,000 after purchasing an additional 1,270 shares during the period. TrueMark Investments LLC increased its stake in 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 in the last quarter. MAI Capital Management increased its stake 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 valued at $81,000 after purchasing an additional 1,450 shares in the last quarter. Raymond James Financial Inc. increased its stake in Special Opportunities Fund by 7.2% in the 2nd 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 in the last quarter. 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 valued at $290,000 after purchasing an additional 3,539 shares in the last quarter. 35.60% of the stock is owned by institutional investors and hedge funds.

Special Opportunities Fund Stock Down 0.0%

Shares of NYSE SPE traded down $0.01 during trading hours on Thursday, reaching $14.10. The stock had a trading volume of 1,185 shares, compared to its average volume of 45,553. The firm has a 50-day moving average of $14.09 and a 200-day moving average of $14.62. Special Opportunities Fund has a fifty-two week low of $13.43 and a fifty-two week high of $15.98.

Special Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.1087 per share. This represents a c) dividend on an annualized basis and a yield of 9.3%. The ex-dividend date of this dividend is 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.