Special Opportunities Fund, Inc. (NYSE:SPE) Shares Shorted: Short Interest Down 68.9% in October

Special Opportunities Fund, Inc. (NYSE:SPE) was the recipient of a large drop in short interest in the month of October. As of October 30th, there was short interest totaling 5,325 shares, a drop of 68.9% from the October 15th total of 17,140 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 40,332 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Special Opportunities Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new position in Special Opportunities Fund during the 3rd quarter valued at $1,188,000. Moors & Cabot Inc. bought a new position in Special Opportunities Fund during the third quarter valued at about $307,000. Principle Wealth Partners LLC bought a new position in Special Opportunities Fund during the third quarter valued at about $126,000. SkyView Investment Advisors LLC bought a new position in Special Opportunities Fund during the second quarter valued at about $44,000. Finally, Concurrent Investment Advisors LLC grew its holdings in Special Opportunities Fund by 31.0% during the second quarter. Concurrent Investment Advisors LLC now owns 94,611 shares of the closed-end fund’s stock worth $2,687,000 after acquiring an additional 22,399 shares during the period. Institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Stock Down 0.2%

Shares of SPE stock traded down $0.03 during midday trading on Friday, reaching $12.14. 57,088 shares of the company were exchanged, compared to its average volume of 41,733. The company’s 50 day moving average price is $12.64 and its two-hundred day moving average price is $13.64. Special Opportunities Fund has a 12 month low of $11.95 and a 12 month high of $15.56.

Special Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 22nd will be paid a dividend of $0.1087 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date is Tuesday, December 22nd.

About Special Opportunities Fund

Special Opportunities Fund, Inc. is a closed-end investment company that seeks total return through income and capital appreciation. Rather than operating a commercial business, it invests in a portfolio of publicly traded securities and other investment opportunities. The fund focuses on special situations, including closed-end funds, business development companies and special purpose acquisition companies. Its adviser, Bulldog Investors, uses an opportunistic approach that may include investing in securities it believes are undervalued or trading below the value of their underlying assets.