Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Down 14.2% in February

Special Opportunities Fund, Inc. (NYSE:SPE) was the target of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 48,688 shares, a drop of 14.2% from the February 12th total of 56,779 shares. Based on an average daily volume of 28,425 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.5% of the company’s shares are short sold. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 28,425 shares, the days-to-cover ratio is presently 1.7 days.

Insider Buying and Selling at Special Opportunities Fund

In other news, President Andrew Dakos sold 4,098 shares of the business’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $14.66, for a total transaction of $60,076.68. Following the completion of the sale, the president directly owned 6,064 shares of the company’s stock, valued at approximately $88,898.24. The trade was a 40.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.13% of the company’s stock.

Institutional Investors Weigh In On Special Opportunities Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Special Opportunities Fund by 8.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 26,167 shares of the closed-end fund’s stock worth $405,000 after buying an additional 1,970 shares during the period. Cetera Investment Advisers lifted its position in shares of Special Opportunities Fund by 19.5% in the 2nd 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 during the period. Advisors Asset Management Inc. boosted its stake in shares of Special Opportunities Fund by 2.0% during the second quarter. Advisors Asset Management Inc. now owns 114,199 shares of the closed-end fund’s stock valued at $1,769,000 after purchasing an additional 2,294 shares in the last quarter. Scotia Capital Inc. boosted its stake in shares of Special Opportunities Fund by 6.6% during the second quarter. Scotia Capital Inc. now owns 105,746 shares of the closed-end fund’s stock valued at $1,638,000 after purchasing an additional 6,531 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in Special Opportunities Fund by 7.2% during the second quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock valued at $483,000 after buying an additional 2,082 shares during the period. 35.60% of the stock is owned by institutional investors.

Special Opportunities Fund Price Performance

Special Opportunities Fund stock remained flat at $14.07 during trading hours on Tuesday. 23,609 shares of the company’s stock traded hands, compared to its average volume of 48,620. The business’s 50-day simple moving average is $14.83 and its 200-day simple moving average is $15.17. Special Opportunities Fund has a 12 month low of $12.72 and a 12 month high of $15.98.

Special Opportunities Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.1087 dividend. The ex-dividend date is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%.

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.