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

by · The Markets Daily

Special Opportunities Fund, Inc. (NYSE:SPE – Get Free Report) was the recipient of a large growth in short interest in the month of 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 daily volume of 50,608 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the shares of the company are sold short. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 50,608 shares, the short-interest ratio is currently 0.5 days.

Insider Activity

In other Special Opportunities Fund news, President Andrew Dakos sold 4,098 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $14.66, for a total transaction of $60,076.68. Following the completion of the sale, the president directly owned 6,064 shares of the company’s stock, valued at approximately $88,898.24. This represents a 40.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.13% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Scotia Capital Inc. grew its holdings in Special Opportunities Fund by 1.2% during the 3rd quarter. Scotia Capital Inc. now owns 107,016 shares of the closed-end fund’s stock valued at $1,659,000 after buying an additional 1,270 shares in the last quarter. MAI Capital Management boosted its position in shares of Special Opportunities Fund by 38.6% during the third quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock worth $81,000 after acquiring an additional 1,450 shares during the last quarter. Envestnet Asset Management Inc. grew its stake 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 valued at $405,000 after acquiring an additional 1,970 shares in the last quarter. Raymond James Financial Inc. grew its stake in Special Opportunities Fund by 7.2% during the second quarter. Raymond James Financial Inc. now owns 31,197 shares of the closed-end fund’s stock valued at $483,000 after acquiring an additional 2,082 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Special Opportunities Fund by 2.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 114,199 shares of the closed-end fund’s stock valued at $1,769,000 after acquiring an additional 2,294 shares during the last quarter. 35.60% of the stock is owned by hedge funds and other institutional investors.

Special Opportunities Fund Stock Up 0.5%

Shares of SPE traded up $0.07 during trading hours on Tuesday, reaching $15.05. 34,506 shares of the stock traded hands, compared to its average volume of 37,132. The company’s 50-day moving average price is $15.15 and its two-hundred day moving average price is $15.38. Special Opportunities Fund has a 52-week low of $12.72 and a 52-week high of $15.98.

Special Opportunities Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.1087 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%.

Special Opportunities Fund Company Profile

(Get Free Report)

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.

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