Special Opportunities Fund, Inc. (NYSE:SPE) Sees Significant Decrease in Short Interest

Special Opportunities Fund, Inc. (NYSE:SPE) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 39,936 shares, a drop of 18.0% from the February 26th total of 48,688 shares. Based on an average trading volume of 64,153 shares, the short-interest ratio is presently 0.6 days. Currently, 0.4% of the shares of the company are short sold.

Special Opportunities Fund Price Performance

NYSE:SPE traded up $0.30 during trading hours on Tuesday, hitting $13.78. 29,751 shares of the stock traded hands, compared to its average volume of 55,588. Special Opportunities Fund has a 1 year low of $12.72 and a 1 year high of $15.98. The stock has a 50 day moving average price of $14.57 and a 200 day moving average price of $15.02.

Special Opportunities Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid 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 9.5%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. MAI Capital Management raised its holdings in Special Opportunities Fund by 38.6% during the third quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock valued at $81,000 after acquiring an additional 1,450 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of Special Opportunities Fund during the third quarter worth about $112,000. TrueMark Investments LLC purchased a new stake in shares of Special Opportunities Fund during the third quarter worth about $226,000. NBC Securities Inc. raised its stake in Special Opportunities Fund by 21.8% during 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 during the period. Finally, Cetera Investment Advisers raised its stake in 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 valued at $362,000 after purchasing an additional 3,811 shares during the period. Institutional investors own 35.60% of the company’s stock.

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.