Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Up 34.8% in January

Special Opportunities Fund, Inc. (NYSE:SPE) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 33,106 shares, a growth of 34.8% from the December 31st total of 24,554 shares. Based on an average daily trading volume, of 42,341 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.3% of the shares of the company are sold short. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 42,341 shares, the days-to-cover ratio is presently 0.8 days.

Insiders Place Their Bets

In other news, President Andrew Dakos sold 4,098 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $14.66, for a total value of $60,076.68. Following the sale, the president directly owned 6,064 shares of the company’s stock, valued at approximately $88,898.24. This trade represents a 40.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Special Opportunities Fund

A number of large investors have recently bought and sold shares of SPE. Shaker Financial Services LLC lifted its stake in Special Opportunities Fund by 246.0% in the 2nd quarter. Shaker Financial Services LLC now owns 266,728 shares of the closed-end fund’s stock valued at $4,132,000 after acquiring an additional 189,630 shares in the last quarter. TrueMark Investments LLC bought a new position in Special Opportunities Fund in the third quarter valued at approximately $226,000. Wolverine Asset Management LLC acquired a new position in shares of Special Opportunities Fund during the 3rd quarter worth approximately $112,000. Scotia Capital Inc. boosted its holdings in shares of Special Opportunities Fund by 6.6% in the 2nd quarter. Scotia Capital Inc. now owns 105,746 shares of the closed-end fund’s stock valued at $1,638,000 after buying an additional 6,531 shares during the last quarter. Finally, Cetera Investment Advisers grew 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 valued at $362,000 after acquiring an additional 3,811 shares during the period. 35.60% of the stock is owned by institutional investors.

Special Opportunities Fund Stock Up 0.2%

NYSE:SPE opened at $14.90 on Tuesday. Special Opportunities Fund has a 52 week low of $12.72 and a 52 week high of $15.98. The company has a 50-day moving average of $15.10 and a 200-day moving average of $15.32.

Special Opportunities Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.1087 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%.

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.