Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Up 31.8% in March

Key Points

• Short interest rose 31.8% in March to 52,624 shares as of March 31 (about 0.5% of the stock) with a short‑interest ratio of 1.1 days based on average volume.
• The fund declared a monthly dividend of $0.1087, payable June 30 to holders of record June 16, implying a roughly 9.1% annualized yield.
• Shares traded at $14.40 mid‑day, with a 50‑day/200‑day moving average of $14.34/$14.89 and a one‑year range of $13.43–$15.98.

Special Opportunities Fund, Inc. (NYSE:SPE - Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 52,624 shares, a growth of 31.8% from the March 15th total of 39,936 shares. Approximately 0.5% of the company's stock are short sold. Based on an average daily volume of 46,231 shares, the short-interest ratio is currently 1.1 days.

Institutional Trading of Special Opportunities Fund

Hedge funds have recently modified their holdings of the business. MAI Capital Management lifted its holdings in shares of 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 valued at $81,000 after purchasing an additional 1,450 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Special Opportunities Fund in the third quarter valued at $112,000. TrueMark Investments LLC purchased a new stake in shares of Special Opportunities Fund in the third quarter valued at $226,000. NBC Securities Inc. lifted 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 purchasing an additional 3,539 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Special Opportunities Fund by 19.5% in the second quarter. Cetera Investment Advisers now owns 23,341 shares of the closed-end fund's stock valued at $362,000 after purchasing an additional 3,811 shares in the last quarter. Hedge funds and other institutional investors own 35.60% of the company's stock.

Special Opportunities Fund Price Performance

Shares of SPE traded up $0.12 during mid-day trading on Friday, reaching $14.40. The company's stock had a trading volume of 70,057 shares, compared to its average volume of 50,147. The business has a fifty day moving average of $14.34 and a 200 day moving average of $14.89. Special Opportunities Fund has a 1 year low of $13.43 and a 1 year high of $15.98.

Special Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.1087 dividend. The ex-dividend date is Tuesday, June 16th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%.

Special Opportunities Fund Company Profile

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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