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

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

Special Opportunities Fund Price Performance

Special Opportunities Fund stock traded down $0.07 during midday trading on Tuesday, hitting $13.12. 50,549 shares of the company’s stock were exchanged, compared to its average volume of 31,583. Special Opportunities Fund has a 52-week low of $13.02 and a 52-week high of $15.85. The stock has a 50-day moving average price of $13.41 and a two-hundred day moving average price of $13.79.

Special Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be given a dividend of $0.1087 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date is Tuesday, September 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. TrueMark Investments LLC lifted its position in Special Opportunities Fund by 8.7% during the first 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 during the last quarter. SkyView Investment Advisors LLC bought a new position in shares of Special Opportunities Fund in the 2nd quarter worth $44,000. Susquehanna International Group LLP raised its position in shares of Special Opportunities Fund by 30.6% during the 2nd quarter. Susquehanna International Group LLP now owns 15,435 shares of the closed-end fund’s stock valued at $208,000 after buying an additional 3,614 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Special Opportunities Fund during the 2nd quarter valued at $50,000. Finally, Detalus Advisors LLC bought a new stake in shares of Special Opportunities Fund during the 1st quarter worth $144,000. Hedge funds and other institutional investors own 35.60% of the company’s stock.

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.