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

Special Opportunities Fund, Inc. (NYSE:SPE) was the target of a significant decrease in short interest during the month of 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. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 30,320 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. MAI Capital Management lifted its holdings in Special Opportunities Fund by 38.6% in the third quarter. MAI Capital Management now owns 5,203 shares of the closed-end fund’s stock worth $81,000 after purchasing an additional 1,450 shares during the period. Detalus Advisors LLC bought a new stake in shares of Special Opportunities Fund during the 1st quarter worth about $144,000. TrueMark Investments LLC lifted its stake in shares of Special Opportunities Fund by 8.7% in the 1st quarter. TrueMark Investments LLC now owns 16,208 shares of the closed-end fund’s stock worth $223,000 after acquiring an additional 1,293 shares during the period. NBC Securities Inc. boosted its holdings 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 acquiring an additional 3,539 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Special Opportunities Fund by 19.5% during the second quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund’s stock worth $362,000 after purchasing an additional 3,811 shares in the last quarter. Institutional investors own 35.60% of the company’s stock.

Special Opportunities Fund Stock Performance

Shares of NYSE:SPE opened at $13.61 on Friday. The company’s 50-day moving average price is $14.09 and its 200 day moving average price is $14.56. Special Opportunities Fund has a fifty-two week low of $13.43 and a fifty-two week high of $15.98.

Special Opportunities Fund Announces Dividend

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 issued a dividend of $0.1087 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date of this dividend 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.