Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Update

Special Opportunities Fund, Inc. (NYSE:SPE) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 20,043 shares, a growth of 136.2% from the June 30th total of 8,487 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 35,434 shares, the short-interest ratio is presently 0.6 days.

Special Opportunities Fund Trading Down 0.2%

Shares of NYSE SPE traded down $0.03 during mid-day trading on Wednesday, hitting $13.06. 11,941 shares of the stock traded hands, compared to its average volume of 42,949. Special Opportunities Fund has a twelve month low of $13.02 and a twelve month high of $15.98. The firm has a 50 day simple moving average of $13.59 and a two-hundred day simple moving average of $14.16.

Special Opportunities Fund Dividend Announcement

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

Institutional Trading of Special Opportunities Fund

Several hedge funds and other institutional investors have recently made changes to their positions in SPE. Detalus Advisors LLC bought a new stake in shares of Special Opportunities Fund in the 1st quarter valued at $144,000. TrueMark Investments LLC raised its stake 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 worth $223,000 after buying an additional 1,293 shares during the last quarter. NBC Securities Inc. raised its stake in Special Opportunities Fund by 21.8% during the fourth quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock worth $290,000 after buying an additional 3,539 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Special Opportunities Fund by 19.5% in the second quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock valued at $362,000 after buying an additional 3,811 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in Special Opportunities Fund by 7.2% in 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 currently owned by institutional investors.

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.