Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Update

Special Opportunities Fund, Inc. (NYSE:SPE) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 15,600 shares, an increase of 173.7% from the October 15th total of 5,700 shares. Based on an average trading volume of 45,600 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Special Opportunities Fund

Several hedge funds have recently added to or reduced their stakes in SPE. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Special Opportunities Fund during the 3rd quarter worth approximately $153,000. Shaker Financial Services LLC lifted its position in Special Opportunities Fund by 8.0% in the 3rd quarter. Shaker Financial Services LLC now owns 63,636 shares of the closed-end fund’s stock valued at $885,000 after acquiring an additional 4,713 shares in the last quarter. Finally, Landscape Capital Management L.L.C. boosted its stake in Special Opportunities Fund by 22.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 14,755 shares of the closed-end fund’s stock worth $205,000 after purchasing an additional 2,723 shares during the period. Institutional investors and hedge funds own 35.60% of the company’s stock.

Special Opportunities Fund Stock Performance

Shares of NYSE:SPE traded up $0.30 during mid-day trading on Friday, reaching $15.30. The stock had a trading volume of 90,267 shares, compared to its average volume of 31,455. The firm has a 50 day simple moving average of $14.22 and a two-hundred day simple moving average of $13.55. Special Opportunities Fund has a twelve month low of $11.11 and a twelve month high of $15.38.

Special Opportunities Fund Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd were given a $0.0954 dividend. This represents a dividend yield of 7.93%. The ex-dividend date was Tuesday, October 22nd.

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.