Short Interest in Special Opportunities Fund, Inc. (NYSE:SPE) Drops By 54.4%

Special Opportunities Fund, Inc. (NYSE:SPE) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 10,145 shares, a decline of 54.4% from the August 15th total of 22,243 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 28,631 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of Special Opportunities Fund

Several institutional investors and hedge funds have recently modified their holdings of SPE. Concurrent Investment Advisors LLC boosted its position in shares of Special Opportunities Fund by 31.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 94,611 shares of the closed-end fund’s stock valued at $2,687,000 after acquiring an additional 22,399 shares during the last quarter. Susquehanna International Group LLP increased its position in shares of Special Opportunities Fund by 30.6% in the second quarter. Susquehanna International Group LLP now owns 15,435 shares of the closed-end fund’s stock worth $208,000 after purchasing an additional 3,614 shares during the last quarter. Patron Partners LLC purchased a new stake in Special Opportunities Fund in the second quarter valued at approximately $192,000. Global Retirement Partners LLC purchased a new stake in Special Opportunities Fund in the second quarter valued at approximately $50,000. Finally, Detalus Advisors LLC purchased a new stake in Special Opportunities Fund in the first quarter valued at approximately $144,000. Hedge funds and other institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Stock Performance

Shares of SPE stock opened at $13.32 on Monday. Special Opportunities Fund has a 52-week low of $13.02 and a 52-week high of $15.98. The business’s fifty day moving average is $13.43 and its 200 day moving average is $13.81.

Special Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be given a dividend of $0.1087 per share. This represents a c) annualized dividend and a yield of 9.8%. The ex-dividend date is Tuesday, September 22nd.

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.