Short Interest in Special Opportunities Fund, Inc. (NYSE:SPE) Declines By 50.5%

Special Opportunities Fund, Inc. (NYSE:SPE) was the target of a large decrease in short interest in May. As of May 29th, there was short interest totaling 12,762 shares, a decrease of 50.5% from the May 14th total of 25,796 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 30,320 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On Special Opportunities Fund

Institutional investors have recently modified their holdings of the business. Detalus Advisors LLC bought a new position in Special Opportunities Fund in the first quarter worth about $144,000. TrueMark Investments LLC raised its position in shares of Special Opportunities Fund by 8.7% during the 1st quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock worth $223,000 after purchasing an additional 1,293 shares during the period. First Manhattan CO. LLC. lifted its holdings in shares of Special Opportunities Fund by 27.0% in the 4th quarter. First Manhattan CO. LLC. now owns 40,010 shares of the closed-end fund’s stock worth $620,000 after purchasing an additional 8,500 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Special Opportunities Fund by 19.4% in the 4th quarter. Cetera Investment Advisers now owns 38,001 shares of the closed-end fund’s stock worth $558,000 after purchasing an additional 6,175 shares during the last quarter. Finally, NBC Securities Inc. boosted its position in Special Opportunities Fund by 21.8% during the 4th quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock valued at $290,000 after purchasing an additional 3,539 shares during the period. Institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Stock Performance

Shares of SPE opened at $13.61 on Friday. The business’s fifty day moving average price is $14.09 and its 200 day moving average price is $14.56. Special Opportunities Fund has a 12-month low of $13.43 and a 12-month high of $15.98.

Special Opportunities Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.1087 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date is Tuesday, June 16th.

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.