Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Up 213.9% in December

Special Opportunities Fund, Inc. (NYSE:SPE) saw a large growth in short interest in December. As of December 31st, there was short interest totaling 24,554 shares, a growth of 213.9% from the December 15th total of 7,822 shares. Based on an average trading volume of 50,608 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the company’s stock are sold short. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 50,608 shares, the short-interest ratio is currently 0.5 days.

Special Opportunities Fund Price Performance

Shares of NYSE:SPE traded up $0.08 on Wednesday, reaching $15.11. The company’s stock had a trading volume of 47,620 shares, compared to its average volume of 40,956. Special Opportunities Fund has a 52-week low of $12.72 and a 52-week high of $15.98. The stock’s 50-day moving average is $15.14 and its two-hundred day moving average is $15.37.

Special Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.1087 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) annualized dividend and a dividend yield of 8.6%.

Insider Activity at Special Opportunities Fund

In related news, President Andrew Dakos sold 4,098 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $14.66, for a total value of $60,076.68. Following the completion of the transaction, the president directly owned 6,064 shares of the company’s stock, valued at $88,898.24. This represents a 40.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.13% of the company’s stock.

Institutional Trading of Special Opportunities Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in Special Opportunities Fund by 8.1% during the second quarter. Envestnet Asset Management Inc. now owns 26,167 shares of the closed-end fund’s stock worth $405,000 after buying an additional 1,970 shares during the period. Shaker Financial Services LLC raised its position in shares of Special Opportunities Fund by 246.0% during the 2nd quarter. Shaker Financial Services LLC now owns 266,728 shares of the closed-end fund’s stock worth $4,132,000 after purchasing an additional 189,630 shares during the last quarter. Cetera Investment Advisers grew its holdings 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 buying an additional 3,811 shares during the last quarter. Advisors Asset Management Inc. increased its position in Special Opportunities Fund by 2.0% during 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 in the last quarter. Finally, Scotia Capital Inc. raised its holdings in shares of Special Opportunities Fund by 6.6% in the second quarter. Scotia Capital Inc. now owns 105,746 shares of the closed-end fund’s stock worth $1,638,000 after acquiring an additional 6,531 shares during the last quarter. Hedge funds and other 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.