Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Up 55.6% in February

Special Opportunities Fund, Inc. (NYSE:SPE) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 24,900 shares, an increase of 55.6% from the February 13th total of 16,000 shares. Based on an average daily volume of 49,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Jefferies Financial Group Inc. bought a new position in shares of Special Opportunities Fund during the fourth quarter worth about $439,000. K2 Principal Fund L.P. bought a new position in shares of Special Opportunities Fund during the 4th quarter worth approximately $146,000. CF Capital LLC acquired a new stake in Special Opportunities Fund during the 4th quarter worth approximately $402,000. Quarry LP acquired a new stake in Special Opportunities Fund during the 4th quarter worth approximately $44,000. Finally, Shaker Financial Services LLC lifted its holdings in Special Opportunities Fund by 148.0% during the 4th quarter. Shaker Financial Services LLC now owns 157,812 shares of the closed-end fund’s stock worth $2,309,000 after purchasing an additional 94,176 shares during the last quarter. 35.60% of the stock is currently owned by institutional investors.

Special Opportunities Fund Trading Up 1.1 %

Shares of NYSE SPE traded up $0.17 during mid-day trading on Friday, reaching $15.05. 37,482 shares of the company’s stock were exchanged, compared to its average volume of 38,524. The business has a fifty day simple moving average of $15.25 and a 200 day simple moving average of $14.75. Special Opportunities Fund has a twelve month low of $12.00 and a twelve month high of $15.87.

Special Opportunities Fund Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd were given a dividend of $0.1098 per share. This represents a dividend yield of 8.76%. The ex-dividend date was Tuesday, January 21st.

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.