Short Interest in Special Opportunities Fund, Inc. (NYSE:SPE) Decreases By 54.4%

Special Opportunities Fund, Inc. (NYSE:SPE) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 10,145 shares, a decrease of 54.4% from the August 15th total of 22,243 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 28,631 shares, the short-interest ratio is currently 0.4 days.

Special Opportunities Fund Stock Down 0.1%

NYSE:SPE traded down $0.01 during mid-day trading on Wednesday, reaching $13.11. 30,904 shares of the company’s stock traded hands, compared to its average volume of 40,544. Special Opportunities Fund has a 12-month low of $13.02 and a 12-month high of $15.85. The company has a 50 day moving average price of $13.41 and a 200-day moving average price of $13.79.

Special Opportunities Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be given a $0.1087 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date is Tuesday, September 22nd.

Hedge Funds Weigh In On Special Opportunities Fund

Several hedge funds have recently made changes to their positions in SPE. Concurrent Investment Advisors LLC increased its stake in shares of Special Opportunities Fund by 31.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 94,611 shares of the closed-end fund’s stock worth $2,687,000 after acquiring an additional 22,399 shares in the last quarter. Patron Partners LLC bought a new position in shares of Special Opportunities Fund during the second quarter valued at approximately $192,000. Detalus Advisors LLC purchased a new position in shares of Special Opportunities Fund during the first quarter valued at approximately $144,000. Global Retirement Partners LLC bought a new stake in shares of Special Opportunities Fund in the 2nd quarter worth approximately $50,000. Finally, Susquehanna International Group LLP grew its stake in shares of Special Opportunities Fund by 30.6% in the 2nd quarter. Susquehanna International Group LLP now owns 15,435 shares of the closed-end fund’s stock worth $208,000 after buying an additional 3,614 shares during the last quarter. 35.60% of the stock is owned by hedge funds and other institutional investors.

About Special Opportunities Fund

Special Opportunities Fund, Inc (NYSE: SPE) is a diversified closed-end investment company. The fund seeks to provide investors with total return through a combination of current income and capital appreciation.

The fund invests primarily in closed-end funds, business development companies and other publicly traded securities. Its strategy may also include investments in special situations, including securities that may be undervalued, subject to corporate actions or involved in opportunities such as tender offers and other market events.

Special Opportunities Fund is advised by Bulldog Investors, LLC, an investment management firm known for specializing in closed-end funds and special situations.