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

Special Opportunities Fund, Inc. (NYSE:SPE) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 7,822 shares, a decrease of 52.5% from the November 30th total of 16,465 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 25,850 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 25,850 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Hedge Funds Weigh In On Special Opportunities Fund

Several large investors have recently added to or reduced their stakes in SPE. Shaker Financial Services LLC boosted its stake in shares of Special Opportunities Fund by 33.0% in the third quarter. Shaker Financial Services LLC now owns 354,678 shares of the closed-end fund’s stock worth $5,498,000 after acquiring an additional 87,950 shares during the period. Advisors Asset Management Inc. lifted its position in Special Opportunities Fund by 2.0% in the second quarter. Advisors Asset Management Inc. now owns 114,199 shares of the closed-end fund’s stock worth $1,769,000 after buying an additional 2,294 shares during the last quarter. Scotia Capital Inc. grew its holdings in Special Opportunities Fund by 1.2% during the 3rd quarter. Scotia Capital Inc. now owns 107,016 shares of the closed-end fund’s stock valued at $1,659,000 after purchasing an additional 1,270 shares during the last quarter. First Manhattan CO. LLC. raised its holdings in shares of Special Opportunities Fund by 3.3% in the first quarter. First Manhattan CO. LLC. now owns 31,510 shares of the closed-end fund’s stock worth $473,000 after buying an additional 1,010 shares during the period. Finally, Raymond James Financial Inc. lifted its position in shares of 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 worth $483,000 after purchasing an additional 2,082 shares during the last quarter. Hedge funds and other institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Trading Down 6.1%

NYSE:SPE traded down $0.95 during trading hours on Monday, reaching $14.62. The company had a trading volume of 135,838 shares, compared to its average volume of 36,788. The firm’s 50 day moving average price is $15.26 and its 200-day moving average price is $15.41. Special Opportunities Fund has a 52 week low of $12.72 and a 52 week high of $15.98.

Special Opportunities Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, December 29th will be paid a $0.70 dividend. This is a boost from Special Opportunities Fund’s previous monthly dividend of $0.11. The ex-dividend date is Monday, December 29th. This represents a c) annualized dividend and a dividend yield of 57.5%.

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.