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

Special Opportunities Fund, Inc. (NYSE:SPE) saw a significant growth in short interest during 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 volume of 25,900 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Special Opportunities Fund

A number of large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its position in Special Opportunities Fund by 13.7% during the first quarter. NewEdge Advisors LLC now owns 16,600 shares of the closed-end fund’s stock worth $180,000 after buying an additional 2,000 shares in the last quarter. Quarry LP acquired a new stake in shares of Special Opportunities Fund in the 4th quarter valued at $26,000. Scotia Capital Inc. boosted its holdings in shares of Special Opportunities Fund by 3.7% in the 4th quarter. Scotia Capital Inc. now owns 91,266 shares of the closed-end fund’s stock valued at $1,082,000 after purchasing an additional 3,259 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Special Opportunities Fund by 24.4% in 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, First Manhattan Co. boosted its holdings in shares of Special Opportunities Fund by 21.6% in the 4th quarter. First Manhattan Co. now owns 70,420 shares of the closed-end fund’s stock valued at $803,000 after purchasing an additional 12,500 shares in the last quarter. Institutional investors and hedge funds own 35.60% of the company’s stock.

Special Opportunities Fund Price Performance

Shares of Special Opportunities Fund stock traded up $0.01 on Thursday, hitting $12.64. The stock had a trading volume of 27,933 shares, compared to its average volume of 25,092. Special Opportunities Fund has a twelve month low of $10.26 and a twelve month high of $12.73. The business’s 50 day moving average is $12.22 and its two-hundred day moving average is $11.59.

Special Opportunities Fund Increases Dividend

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

Special Opportunities Fund Company Profile

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.