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

Special Opportunities Fund, Inc. (NYSE:SPE) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totaling 52,624 shares, an increase of 31.8% from the March 15th total of 39,936 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily volume of 46,231 shares, the days-to-cover ratio is currently 1.1 days.

Special Opportunities Fund Price Performance

Shares of SPE traded up $0.12 during mid-day trading on Friday, reaching $14.40. The company’s stock had a trading volume of 70,057 shares, compared to its average volume of 50,147. Special Opportunities Fund has a 1 year low of $13.43 and a 1 year high of $15.98. The business has a fifty day moving average of $14.33 and a 200 day moving average of $14.88.

Special Opportunities Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.1087 per share. The ex-dividend date is Tuesday, June 16th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%.

Institutional Investors Weigh In On Special Opportunities Fund

Large investors have recently modified their holdings of the stock. Scotia Capital Inc. boosted its position in Special Opportunities Fund by 1.2% during the third 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. MAI Capital Management boosted its holdings in shares of Special Opportunities Fund by 38.6% in the 3rd quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock valued at $81,000 after buying an additional 1,450 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of Special Opportunities Fund by 7.2% in the second quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock valued at $483,000 after buying an additional 2,082 shares in the last quarter. NBC Securities Inc. grew its stake in shares of Special Opportunities Fund by 21.8% in the fourth quarter. NBC Securities Inc. now owns 19,770 shares of the closed-end fund’s stock valued at $290,000 after buying an additional 3,539 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Special Opportunities Fund by 19.5% in the 2nd quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock valued at $362,000 after purchasing an additional 3,811 shares during the period. 35.60% of the stock is currently owned by institutional investors.

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.