Special Opportunities Fund, Inc. (NYSE:SPE) Sees Significant Growth in Short Interest

Special Opportunities Fund, Inc. (NYSE:SPE) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 12,900 shares, a growth of 578.9% from the February 29th total of 1,900 shares. Based on an average daily trading volume, of 25,900 shares, the short-interest ratio is presently 0.5 days.

Special Opportunities Fund Stock Up 0.1 %

Special Opportunities Fund stock traded up $0.01 during midday trading on Thursday, hitting $12.64. 27,933 shares of the company’s stock were exchanged, compared to its average volume of 25,092. Special Opportunities Fund has a 12 month low of $10.26 and a 12 month high of $12.73. The firm has a 50-day moving average of $12.22 and a two-hundred day moving average of $11.59.

Special Opportunities Fund Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 31st. Shareholders of record on Monday, January 22nd were issued a dividend of $0.0954 per share. This represents a yield of 9.58%. This is a boost from Special Opportunities Fund’s previous dividend of $0.09. The ex-dividend date of this dividend was Friday, January 19th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can bought a new stake in shares of Special Opportunities Fund in the 1st quarter valued at about $202,000. Ancora Advisors LLC raised its position in Special Opportunities Fund by 49.6% during the 1st quarter. Ancora Advisors LLC now owns 126,823 shares of the closed-end fund’s stock worth $1,859,000 after buying an additional 42,067 shares during the last quarter. NewEdge Advisors LLC purchased a new position in Special Opportunities Fund during the 2nd quarter worth approximately $145,000. Raymond James & Associates increased its holdings in shares of Special Opportunities Fund by 24.4% during the 4th quarter. Raymond James & Associates now owns 41,973 shares of the closed-end fund’s stock valued at $478,000 after purchasing an additional 8,240 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in shares of Special Opportunities Fund during the 4th quarter valued at approximately $157,000. 35.60% of the stock is currently owned by institutional investors.

About Special Opportunities Fund

Special Opportunities Fund, Inc is a close-ended balanced fund of funds launched and managed by Bulldog Investors, LLC. It invests in close-ended funds investing in public equity and fixed income markets. The fund employs a combination of value, opportunistic and special situations strategies to make its investments.