Special Opportunities Fund, Inc. (NYSE:SPE) Short Interest Up 173.7% in October

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

Special Opportunities Fund Stock Up 2.2 %

NYSE:SPE traded up $0.32 during trading hours on Friday, hitting $15.33. 123,639 shares of the company’s stock traded hands, compared to its average volume of 31,629. Special Opportunities Fund has a twelve month low of $11.11 and a twelve month high of $15.39. The stock’s fifty day moving average price is $14.24 and its two-hundred day moving average price is $13.56.

Special Opportunities Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Landscape Capital Management L.L.C. increased its position 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 last quarter. Shaker Financial Services LLC increased 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 worth $885,000 after purchasing an additional 4,713 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Special Opportunities Fund in the 3rd quarter worth about $153,000. 35.60% of the stock is owned by institutional investors and hedge funds.

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.